KARACHI: The Directorate General of Customs Valuation has revised the customs values Malleable Iron Pipe fitting through Valuation Ruling No: 1297/2018 under Section 25A of the Customs Act-1969.
Earlier the customs values of Malleable Iron Pipe fittings were determined vide Valuation Ruling No. 682/2014 dated 08-09-2014. Therefore, an exercise was initiated to determine the customs values of afore-mentioned goods under Section 25-A of the Customs Act, 1969.
In this regard meeting with stakeholders was held in the Directorate General and their input and viewpoints were obtained. However, the participants were requested to submit invoice of Imports made during last three months showing factual value.
Websites, names and e-mail address of known foreign suppliers / manufacturers of the item in question through which the actual current value could be ascertained. iii) Copies of contracts made / LCs opened during the last three months showing the value of items in question
Copies of sales tax paid invoices issued during last four months’ (excluding duties and taxes) to substantiate their contentions.
During the meetings, the importers contended that the custom values determined vide the existing valuation ruling are already on the higher side.
Representatives of M/s.Valves Importers and Dealers Group stated due to higher customs values many importers of Iron and Steel Pipe Fittings have switched to the import of Plastic Pipe fittings.
The view point of all stakeholders was heard in detail and considered to arrive at Customs values of Malleable Iron Pipe fittings.
The importers were asked to provide the above mentioned import documents and other related evidences in sub: port of their contentions but in spite of lapse of considerable time, the requisite documents were not furnished.
Valuation methods given in Section 25 of the Customs Act, 1969 were applied sequentially to address the valuation issue at hand.
