KARACHI: Federal Board of Revenue’s Directorate General of Customs Valuations has issued new rulings for contact lenses.
The department, exercising powers conferred upon it under section 25-A of the Customs Act 1969, issued a new valuation ruling (VR 904/2016) for contact lenses under PCT heading 9001.3000. The new VR 949 0f 2016 supersedes VR 681 0f 2014.
According to the new VR, the proposed PCT for WeBOC for import from China would be 9001,3000.1000, 9001.3000.1100 and 9001.3000.1200 while import from Korea, Singapore, Indonesia and Japan would be 9001.3000.1300, 9001.3000.1400 and 9001.3000.1500 and for imports from USA, Europe and Australia would be under 9001.3000/1600, 9001.3000.1700 and 9001.3000.1800.
The valuation ruling also categorises the contact lenses for levy of custom duty as follows: Daily/one day use monthly/frequent replacement, conventional/yearly with C&F price ranging between $0.55 to $3.3.
