KARACHI: The Directorate General of Customs Valuation has determined the values of cable wire lock vide Valuation Ruling 731/2015.
It may be mentioned here that the Directorate General of Customs Valuation determined the customs values of cable wire lock in 2014, which were contested by the importers before the Customs Appellate Tribunal. The tribunal set aside the impugned ruling and remanded it back for deciding the matter afresh.
According to details, a number of appeals were received in the directorate to revise the values keeping in view the actual price trends in the international market. An order was issued with the direction to revise the current valuation ruling with existing price, an exercise initiated for redetermination of customs values for cable wire lock.
The values of cable wire lock per kilogramme would be assessed for different origins’ duty and taxes at the following rates:
The customs values of cable wire lock of China origin up to 150 grammes is now $1.25/kg, from 151 to 250 grammes is $1.35/kg and above 250 grammes is $1.40/kg; values of cable wire lock from UAE, Taiwan, Korea and Hong Kong of up to 150 grammes is $1.40/kg, from 151 to 250 grammes is $1.50/kg and above 250 grammes is 1.55/kg; values of cable wire lock from Europe and USA of up to 150 grammes is $1.85/kg, from 151 to 250 grammes is $2.00/kg and above 250 grammes is $2.10/kg.
