KARACHI: The Sindh High Court (SHC) has sought comments from the customs authorities on a petition seeking the release of a consignment of re-rollable scrap.
Mehboob Re-rolling Mills petitioned the high court challenging the new valuation rates of re-rollable scrap.
Advocate Ghulam Nabi Shar, the counsel for the petitioner, submitted that te petitioner imported a consignment of 206 metric tons of re-rollable scrap and sought its clearance. He said that Directorate General of Customs Valuation recently issued a Valuation Ruling No.767/2015 determining the values of re-rollable scrap. The value of the petitioner’s consignment was assessed as per new valuation rates which are substantially high.
The counsel said that he filed an appeal seeking review of the valuation rates which is yet to be decided. Since the new valuation rates have been impugned, his consignment be released on payment of duty and taxes assessed at old valuation rates as the petitioner is willing to deposit the rest of differential amount of duty and tax with Nazir of the Court.
Therefore, he requested the Court to order the customs authorities to release the petitioner’s consignment.
