KARACHI: The Directorate General of Customs Valuation has revised the customs value of aluminum radiators through Valuation Ruling No 1119/2017 under Section 25-A of the Customs Act, 1969.
The Customs values of aluminum radiators were determined vide Valuation Ruling No.612/2013, dated 22-11-2013. Thus, with a view to reflect the current prices prevailing in the international market, an exercise to determine the customs values of the subject goods afresh was taken up.
A meeting was held on 21-03-2017 and 29-03-2017, with importers and local manufacturers of aluminium radiators. The importers 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.
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 representative of local manufacturers M/s Kor Tech Auto Industries (Pvt) Ltd. and
Thal Engineering were of the view that aluminum radiators are being assessed at low value as the raw material and manufacturing cost has increased. However, the importers contended the manufacturer point of view and submitted that radiators prices may be rationalized according to market prices No any of the importers submitted import invoices, sales tax invoices, literature, representative samples, working proposal in support of their contention and other relevant requisite import documents.
