KARACHI: The Directorate General of Customs Valuation has revised the customs value of Festive/Christmas Snow Spray through Valuation Ruling No 1054/2017 under Section 25A of the Customs Act, 1969.
According to details, the Directorate General has earlier circulated reference customs values of Festive/Christmas Snow Spray vide valuation data base letter no.1117/2016, on December 5, 2016. Some importers approached this Directorate General and requested to revisit the values notified in the VDB and issue valuation Ruling for uniform applicability.
Therefore, this Directorate General initiated an exercise for determination of customs values for the subject goods. Meeting with stakeholders was held on 17-02-2017. The stakeholders were requested to furnish invoices of imports during last three months showing factual value. Websites, names and E-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained.
Copies of contracts made / LCs opened during the last three months showing the value of item in question.
Copies of Sales Tax Invoices issued during last four months showing the difference in price (excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers.
The importers stated that the circulated customs values vide VDB. 117/2016, dated 05-12-2016, were on higher side as compared with values in the international market and requested for their downward revision accordingly. However, he did not submit any corroboratory document/evidence in support of his contention. Valuation methods given in Section 25 of the Customs Act, 1969 were followed to arrive at customs value of Festive/Christmas Snow Spray. Transaction value method provided in Section 25 (1) was found inapplicable owing to wide variation in the values being declared to the customs and incomplete descriptions. Identical/ similar goods value methods provided in Section 25 (5) & (6) were examined for applicability to the valuation issue in the instant case which .provided some reference values of the subject goods but the same could not be exclusively relied on due to , variation in declared values of subject goods.
