KARACHI: Director General of Customs Valuation Syed Tanveer Ahmed issued Order in Revision No.301/2017 under section 25-D of the Customs Act, 1969 against Valuation Ruling No.937/2016 dated 26-09-2016; the revision petition was filed by M/s New Light House (Pvt) Ltd.
The petitioner stated that the consequential effect of ruling 937, dated 26-09-2016 has led to a hike in the valuation of Calcium Carbide to the extent to US$ 0.019. It is pertinent to place on record that even in pre-ruling era the import price fixed by customs authorities were on a higher side when compared with international market prices. So much so, that even the ruling 418 by your honor on 28″ January, 2012 was on higher side in contrast to international prices prevailing at that time.
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Director General of Customs Valuation in his order stated that hearing in the case was fixed on 16-01-2017. Mr. Imran Iqbal, Advocate, appeared and stated that previous Valuation Ruling No.937/2016, dated 20-09-2016 is on higher side and disagreed being harsh, unlawful and ultra vires to the Customs Act, 1969 on the grounds that the incumbent Director of Customs Valuation has determined the customs values of Calcium Carbide in the impugned Valuation Ruling without following the sequential methods laid down in Section 25 of the Custom Act, 1969.
They stated that the price actually paid or payable is the transaction value which is acceptable in terms of Section 25(1) of the Customs Act, 1969, has been altogether ignored by the Director, Customs Valuation. The petitioner contended to accept their transaction value. They gave a chart showing prices of their supplier for last three years which showed a declining trend. They were asked to provide online prices, ICIS prices from chemical Association and Zauba import/export data.
Director General of customs Valuation also said that,however, this office retrieved prices of the subject item “Calcium Carbide” from international websites which showed prices at US$ 0.696/Kg in accordance with the prevailing Valuation Ruling.
In view of the above position, market survey, prices retrieved from international websites and all information so gathered from different sources were analyzed and found that the customs values were determined in accordance with the prevailing international prices of Calcium Carbide. The valuation ruling is upheld and revision petition is rejected accordingly.
