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Valuation Ruling No: 909/2016 due to be revised by Surriya Butt on May 2, 2018

Valuation Ruling No: 909/2016 due to be revised by Surriya Butt on May 2, 2018

KARACHI: The Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has said that we are receiving more than 10 applications from importers in a day for revising the previous valuation, but we can’t do every valuation without proper consideration. She said first we consider all the applications and then decide as to which valuation can be revised.

On Wednesday Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 909/2016 on May 2, 2018, it is learnt.

Surriya Butt has said that the department is reviewing suggestions from various importers to set new prices of aluminum composite. She said that some valuations, which were issued in 2016, were being reviewed from the beginning.

Moreover, the valuations will be set in view of the rising prices in the international market. Sources told CT that a petition was submitted before the Customs Valuation in which change in prices of aluminum composite was requested.

Sources said that Valuation Ruling No: 909/2016 was issued on August 15, 2016. A meeting was held with the stakeholders on 14th of March 2018. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained.