KARACHI: The Directorate General of Customs Valuation revised the customs values of tyres & tubes-III (agriculture, industrial & earthmover) through Valuation Ruling No: 1320/2018 under Section 25A of the Customs Act-1969.
According to the details, the customs values of tyres & tubes of different types and sizes including those of agriculture, industrial & earthmover were determined under Section 25-A of the Customs Act, 1969 vide Valuation Ruling No. 1236/2017 dated 15-12-2017.
However, different stakeholders requested to re-determine customs values afresh in line with values prevalent in the international market. Therefore, an exercise was initiated in terms of Section 25-A of the Customs Act, 1969 to determine customs values of subject goods in light of g international market prices.
Meetings were held 24-04-2018, 04-06-2018 and 02-08-2018 with stakeholders including Pakistan Tyre Importers and dealers Association (PTIDA) and the officers form field formations. The importers had been requested to furnish invoices of imports during last three months show actual value of goods.
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 values of supplies (excluding duty and taxes) to substantiate their contentions. During the course of meetings, certain importers submitted that custom values of various tyres and tubes determined in the existing valuation ruling are on higher side, therefore, the same may be rationalized downward. They were requested to submit evidences in support of their claims. Pakistan Tyre Importers and Dealers Association (PTIDA) also submitted proposals for values of different types of tyres and tubes.
