KARACHI: The Directorate General of Customs Valuation has revised the customs value of Gypsum Board, Gypsum Tile and Fiber Cement Board through Valuation Ruling No 1131/2017 under Section 25-A of the Customs Act, 1969.
According to details customs values of Gypsum board, Gypsum tile and fiber cement board were determined vide Valuation Ruling No.951/2016, dated 13-10-2016. It was deemed expedient to revise the Valuation Ruling in order to make it reflective of current prices prevailing in the international market. Hence, an exercise was conducted to determine customs values of subject goods afresh.
Stakeholders meeting was held on 05-04-20I7 & 11-04-2017. The importers were also requested to furnish invoices of imports made during last three months showing factual value.
Websites, names and E-mail addresses of knownforeign 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 some importers of Gypsum Board, Gypsum Tile and Fiber Cement Board appeared for meeting 11-04-2017 and contended that there was no change in the international market only few sales tax invoices were submitted by manufacturers M/s DFB Gypsum
Valuation methods provided in Section 25 of the Customs Act, 1969 were duly followed and applied sequentially to address the valuation issue at hand. Transaction value method provided in Sub-Section (1) of Section 25 was found inapplicable because the requisite information under the law was not available to arrive at the correct transaction value. Furthermore, no invoices found from inside import-containers are reported by clearance Collectorates. Identical / similar goods value method provided in Sub-Sections (5) & (6) of Section 25 ibid were examined for applicability to determine Customs value of subject goods, this data provided some references.
