KARACHI: The Directorate General of Customs Valuation has determined the customs values artificial flowers (HS Code No.6702.1000) under section 25-A of the Customs act, 1969 vide Valuation Ruling No. 749/2015.
According to the details, it was brought into the notice of the Directorate General of Customs Valuation that artificial flowers are being imported at under invoiced values. This prompted an exercise to determine the Customs values of the subject goods under Section 25-A of the Customs Act, 1969 was initiated.
In this regard a meeting was held with the stakeholders including importers, representatives of Karachi Chamber of Commerce and Industry and clearance Collectorates on June 9, 2015 to discuss the issues related to the values of subject goods.
Artificial flowers hereinafter specified, shall be assessed to duty/taxes on the customs values mentioned as below;
From now onward the Artificial Flowers under PCT Heading 6702.1000 China origin would be assessed at the rate of 3.25 USD per kilogram.
