KARACHI: The Sindh High Court (SHC) on Wednesday sought comments from the director general of customs valuation and collector of customs MCC Appraisement-East on a petition against the Valuation Ruling No. 659/2014 for determining the value of branded tyres.
Petitioner Faisal Trading Company moved the court, stating that it imported a consignment of Onyx brand tyres, declaring it as per its transaction value. However, the customs authorities are assessing the value of the goods on the basis of Valuation Ruling No 659/2014 which is much higher as the price of the goods in the international market has reduced.
The petitioner pleaded the Court to set aside the ruling and order the custom authorities to determine the value of the goods as per their market price. The court was prayed to order provisional release of the consignment.
After preliminary hearing, a division bench issued notice to the official respondents to file their response to the petition till October 06.
