KARACHI: The Directorate General of Customs Valuation revised the customs value of glass balls assorted design and colour through Valuation Ruling No 1069/2017 under Section 25A of the Customs Act, 1969.
According to details, the customs values of glass balls assorted design and colour were circulated vide VDB letter No.132 dated 22.12.2016. It was deemed expedient to issue a Valuation Ruling hence an exercise was conducted to determine customs values of glass balls assorted design and colour in line with current price trend in the international market.
Sources said that, meetings with stakeholders were scheduled on 27-02-2017 and 03-03-2017. The stakeholders were requested to submit 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 and copies of sales tax invoices issued during last three 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.
However, no one appeared for the scheduled meetings nor any documents were received from any stakeholders which shows that the importers are disinterested in proceedings and values are considerably higher than their declarations and by keeping themselves absent, they may have created an alibi for being unheard.
Valuation methods given in Section 25 of the Customs Act, 1969 were followed. Transaction value method provided in Section 25 (1) was found inapplicable because the requisite information was not available as per law. Identical / similar goods value methods provided in Section 25(5) & (6) were also not found helpful in determination of values due to wide variation in values. Online values were also checked.
