KARACHI: The Directorate General of Customs Valuation revised the customs value of printed decorative papers through Valuation Ruling No 1127/2017 under Section 25A of the Customs Act, 1969.
The Customs values of printed decorative papers were circulated vide VDB letter No.221 dated 28.02.2017. It was deemed expedient to issue a Valuation Ruling hence an exercise was conducted to determine Customs values of Printed Decorative Papers in line with current price trends in the international market.
Stakeholders’ meetings were scheduled on 23.03-2017 & 11-04-2017. All participants 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.
The meeting was attended by importers of printed decorative papers. The importers requested that the prices of the subject commodity were lower in the international market as fired to the values circulated vide VDB letter No. 221 dated 28.02.2017. The clearance data and Values prevalent in the international market were discussed at length and the values were decided after detailed deliberation on quantity, designs and type of printed decorative papers imported.
