KARACHI: The Federal Board of Revenue’s Directorate General of Customs Valuation has issued new valuation of chewing gum from all foreign origins including USA, Europe and South Africa.
Customs Valuation Director General Syed Tanvir Ahmad has issued an Order in Revision No /2016 under Section 25-D of the Customs Act, 1969 against Valuation Ruling No 834/2016 dated April 19, 2016.
The revised C&F Customs Values in US $11.90Kg on the import of Chewing Gum Wrigley’s Brand Extra Pellet (different flavours), revised C&F Customs Values in US $3 Kg on the import of Chewing Gum Lottee Brand Spout Brand and also enhanced Customs Values of other brands of chewing gum. According to the order, the petitioner (company) confessed the genuinity of customs values determined vide impugned Valuation Ruling of Lottee brand chewing Gum of Korea origin @ US $2.00/Kg but he demanded for determination of valuation ruling on lesser side to compete with Afghan Transit Trade. The departmental representative stated that values of the subject items have been determined in terms of Section 25(7) of the Custom Act, 1969 after conducting market enquiry to arrive at genuine assessable value.
