KARACHI: Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 767/2015 on October 31st, it is learnt.
Surriya Butt has said the department is reviewing suggestions from importers to set new prices. She said some valuations, which were issued in 2015 and 2016, were being reviewed from the beginning.
Moreover, the valuations will be set in view of rising prices in the international markets. Sources told Customs Today that a petition was submitted by the importers to Customs Valuation in which change in prices of re-roll able scrap and compressor scrap was requested.
Sources said the Valuation Ruling No: 767/2015 was issued on 4th December 2015. A meeting was held with the stakeholders on October 5, 2017. Importers were told to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value could be ascertained.
