KARACHI: The Directorate General of Customs Valuation revised the customs value of non-cellular rubber sheet through Valuation Ruling No 1071/2017 under Section 25A of the Customs Act, 1969.
According to details, the Customs values of non-cellular rubber sheet were circulated vide VDB letter No.179 dated 03.02.2017. It was deemed expedient to issue a Valuation Ruling hence an exercise was conducted to determine Customs values of non-cellular rubber sheet in line with current price trends in the international market.
Sources said that a meeting with the stakeholders was scheduled on 06-03-2017. All participants were requested to submit invoices of imports during last three months showering 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.
The meeting was attended by importers of non-cellular rubber sheet. The importers contended that the prices of the subject commodity were lower in the international market as compared to the values circulated vide VDB letter 179 dated 03-02-2017. No requisitioned, documents have been received/submitted by any of the importers.
