MULTAN: Directorate General of Customs Valuation has determined the values of re-roll able scrap and compressor scrap vide Valuation Ruling No.767/2015.
The customs values of re-rollable scrap and compressor scrap were determined vide Valuation Ruling No.653/2014. The association of importers filed application for downward revision of values on the plea that the value of re-rollable scrap has declined in the international market.
Directorate General of Customs Valuation decided to review the prices of re-rollable scrap and compressor scrap after decline in international market.
With a view to reflect the current prices prevailing in the international market, an exercise to determine the values of re-rollable scrap and compressor scrap was undertaken.
Accordingly to new revised prices the re-rollable scrap under PCT 7204.4910 of all origins would be assessed to duty and taxes at $440 per metric ton. While compressor scraps under PCT 7204.4940 of all origins would be assessed to duty and taxes at $620 per metric ton.
