KARACHI: The Directorate General of Customs Valuation has revised the customs value of chemicals, iso-propyl alcohol, N-propanol, Cyclohexanone, Ethoxylated Nonyl Phenol, Iso-Butanol, N-Butanol and Phenol vide Valuation Ruling No 1219/2017 under Section 25A of the Customs Act, 1969.
According to details the Customs values of chemicals, iso-propyl alcohol, N-propanol, Cyclohexanone, Ethoxylated Nonyl Phenol, Iso-Butanol, N-Butanol and Phenol were determined under Section 25-D of the Customs Act, 1969 vide Order in Revision No.1156/2017 dated 09-05-2017.
However, it has been challenged before the Customs Appellate Tribunal and Sindh High Court at Karachi. There were several representations from commercial importers as well as from Pakistan Chemicals and Dyes Merchants Association (PCDMA) wherein they claimed that value of the subject chemicals needs to be realigned with international values.
They requested to determine the applicable customs values afresh in accordance with the trend of values in the international markets. Keeping in view the prevailing prices of the subject goods, Directorate General initiated an exercise for determination of the customs values of the subject chemicals.
Stakeholder’s participation in determination of Customs values: Meeting with stakeholders i.e. importers, Pakistan Chemicals and Dyes Merchants Association (PCDMA) and representatives from clearance Collectorates, was held on 12.04.2017 and 08.05.2017, to discuss the current international prices of the subject chemicals.
The commercial importers stated that the prices of subject items are required to be de-linked from the ICIS Scan which as duly supported by the (PCDMA). Moreover, the importers requested that the customs
