KARACHI: Customs Valuation Director Wasif Memon has revised the customs values of tractor parts vide Valuation Ruling No.945 /2016 under Section 25-A of the Customs Act, 1969.
It was brought to the notice of this Directorate General of Customs Valuation that the values of tractor parts have increased in the international market as compared to the determined customs values of tractor parts vide Valuation Ruling No.728/2015, dated May 14, 2015.
The impugned valuation ruling required revision in line with the prevailing prices in the international market. Therefore, the directorate initiated an exercise for determination of customs value for tractor parts.
