KARACHI: Directorate General of Customs Valuation has determined the customs value of imported floral foam vide Valuation Ruling No.745/2015.
According to details, the valuation department had received many cases regarding the imported floral foam of Malaysian origin for determining its customs value from the Clearance Collectorate.
Moreover, on June 3, 2015 a meeting was held with all the stakeholders and representatives of importers, Custom Collectorate and Karachi Chamber of Commerce and Industry to get their opinion on the subject matter.
Later, after thorough discussions, the Customs Value for the assessment of floral foam had been proposed under PCT heading 3921.9090 @ $5.5 per kg of Malaysian origin.
It is important to mention that in case of consignments imported by air, the assessing officer shall take into account the differential between air and sea freight at the time of applying custom duty.
Later, Director Customs Valuation also directed the concerned officials that any kind of irregularity should immediately be brought in the notice of DG customs valuation.
