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Valuation Ruling of 776/2015 to be revised on September 29

Valuation Ruling of 776/2015 to be revised on September 29

KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt, has decided to revise the Valuation Rulings No 776/2015 on Friday, September 29, it is learnt here.

According to the details, Surriya Butt has said that the department is reviewing suggestions from importers to set new prices. She further said some valuations, which were issued in 2015, were being reviewed from the beginning.

Moreover, the valuations will be set in view of rising prices in international markets. Sources told reporters that a petition was submitted by the importers to Customs Valuation in which change in prices of Viscose Suiting Fabrics  was requested. Sources said that Valuation Ruling No. 776/2015  was issued on 4th December 2015.

A meeting was held with the stakeholders on 6th September, 2017. 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.

It is mention here that now a days Director General Custom Valuation Surriya Ahmed Butt are attending continue meetings to importers, source said only two fresh valuation ruling issued in this current month.