Karachi: The Directorate General of Customs Valuation has revised the customs value of Chemicals namely Glycerin, Ammonium Bi Carbonate, Butyl Acrylate, Chlorinated Paraffin Wax (Liquid) And Calcium Carbide, through Valuation Ruling No 1132/2017 under Section 25A of the Customs Act, 1969.According to details,
The custom values of the subject Chemicals namely Glycerin, Ammonium Bi Carbonate, Butyl Acrylate, Chlorinated Paraffin wax (Liquid) and Calcium Carbide were earlier determined vide Valuation Ruling Nos 937/2016 dated 26.9.2016. The Director General Customs Valuation vide Order-In-Revision No 277 dated 21.12.2016 referred the case to the Director to give opportunity of hearing and examine the arguments of importers of the liquid chlorinated paraffin wax based on the chlorine contents. There were several representations from different importers/ traders and Pakistan Chemicals and Dyes Merchants Association (PCDMA),– for determination of customs value of the subject chemicals a fresh. They claimed that the prices of subject chemicals are showing down ward trend in the International market hence existing valuation ruling, which is over six months old is required to be revised in the light of honorable High Court of Sind, at Karachi’s orders dated 10.11.2015 in Constitutional Petition No. D- 6918/2015. Since 90 days have passed and a number of representations were received from commercial importers regarding values determined in afore mentioned valuation rulings, hence an exercise was initiated to re-determine the values of subject chemicals.
Stakeholders’ participation in determination of Customs values: Meeting with all the stakeholders including importers, trade bodies i.e. Pakistan Chemicals and Dyes Merchants Association (PCDMA) and representatives from clearance Collectorates, was held on 11.9.2016 to discuss the current international prices of the subject chemicals The view point of all participants was heard in detail and considered to arrive at Customs value for subject Chemicals.
Method adopted to determine Customs values: Valuation methods provided in Section 25 of the Customs Act, 1969 were duly applied in their regular sequential order to address the particular valuation issue at hand.
