KARACHI: The Directorate General of Customs Valuation has revised the customs values of zippers (low end brands) in cut to size and rolls through Valuation Ruling No 1141/2017 under Section 25A of the Customs Act, 1969.
According to details, the customs values of zippers (low end brands) in cut to size and rolls were determined vide Valuation Ruling No.1112/2017, dated 24-03-2017. Certain importers filed a revision petition before the Director General of Customs Valuation, Karachi under Section 25D of the Customs Act, 1969, which were disposed of vide Order-in-Revision No.331/2017 (DG(V)Val.Rev/81/2017/1069), dated 17-04-2017, with remarks that reconsideration of customs values after providing opportunity of presentation to the stakeholders.
Therefore, Directorate General re-initiated exercise for determination of customs values of the subject goods. The stakeholders were requested to furnish 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.
During the meeting the stakeholders agitated that the zippers were used mostly in Export oriented industry and there was downward trend in prices in the international market, which was not reflected in the Valuation Ruling. They were of the view that zippers in Rolls should be treated leniently as the same were industrial items.
The importers submitted some documents which have been considered for the determination of customs value, in addition to declarations of concessionary regime importers, which are higher in some cases, prices of YKK brand goods’ export to tariff area and market prices of different imported zippers. Valuation methods given in Section 25 of the Customs Act, 1969 were followed to arrive at customs value of Zippers (Low end Brands) in Cut to size and Rolls. Transaction value method provided in Section 25 (1) was found inapplicable owing to wide variation in the values being declared to the customs and incomplete descriptions.
