KARACHI: The Directorate General of Customs Valuation has revised the customs value of un-coated offset paper for writing, printing and photocopy through Valuation Ruling No 1248/2017 under Section 25A of the Customs Act, 1969.
According to details, Customs values of un-coated offset paper for writing, printing and photocopy were determined vide Valuation Ruling No.1190/2017 dated 6.7.2017. As the ruling was old and values in the international market have appreciated. Therefore, an exercise was initiated to determine the customs values of aforementioned goods under Section 25A of the Customs Act, 1969.
Stakeholders’ meeting was scheduled on 18.01.2018, 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 items in question.
Copies of Sales Tax Invoices issued during last three months showing the difference in price (excluding duty and taxes) to substantiate their contentions.
The meeting was attended by importers. Traders and representatives of local manufacturers. All present during the stakeholders meeting agreed to the point that values in the international market of the subject item has increased substantially since the issuance of privities valuation ruling.
