KARACHI: Directorate General of Customs Valuation has issued the reference values for cashew nuts. This Directorate General has initiated an exercise to develop database values for different items wherein it has been observed that declarations are of wide range and do not correctly reflect values of the items as traded in the international market.
During the scrutiny of previous clearance data, it has been observed that cashew nuts falling under PCT headings 0801.3200 are being assessed at different values and certain transactions are on very low side.
This Directorate General, after carefully examining the clearance data,also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market surveys. This office, therefore, has found that the customs values of cashew nuts of all origins are under PCT heading 0801.3200 @US$ 7.50.
These values are, however, for reference/guidance only and final assessment may please be made after considering other factors which have bearing on the customs value.
The clearance collectorates may like to consider the values given above before finalizing the assessment of the subject items. If further fine-tuning in specifications and ensuing values are required, Collectorate may forward a reference along with detailed justifications so that requisite adjustments are accordingly issued.
