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Valuation Ruling No: 922/2016 due to be revised by Surriya on 8th of May

Valuation Ruling No: 922/2016 due to be revised by Surriya on 8th of May

KARACHI: The Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 922/2016 on 8th of May, 2018, it is learnt here.

Surriya Butt said the department is reviewing suggestions from various importers to set the new prices of energy drinks (HS Code 2202.1010).

She said some valuations issued in 2016 are being reviewed from the beginning. Moreover, the valuations will be set in view of the rising prices in the international market. Sources told Customs Today that a petition was filed with the Customs Valuation in which change in prices of energy drinks (HS Code 2202.1010) was requested.

Sources further said that the Valuation Ruling No: 922/2016 was issued on August 31, 2016. A meeting was held with the stakeholders on Tuesday, 20th of March 2018.

Importers were advised 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.