KARACHI: M/s Muhammad Rizwan & Brothers approached the Sindh High Court (SHC) and filed a constitutional petition seeking release order for imported 1,756.0622 metric tons of prime quality hot rolled H-Beams (to be used at dams and heavier connecting bridges) seized by customs officials due to higher assessment.
On 12 August 2020, counsel for the petitioner stated that petitioners has imported a total quantity of 1,756.0622 metric tons of prime quality hot rolled H-Beams (to be used at dams and heavier connecting bridges) in three consignments from M/s Doller Steel Company Ltd, Korea and filed goods declaration according with law.
He further submitted that subject consignments are of European Union Origin and covered under the H.S Code 7216.3310, the unit price of the said consignments as per respective invoices is US$ 550 per MT (US$ 0.550 per KG), The FBR has not issued any ruling to regulate the valuation of the said imported goods for levy of customs duties and other taxes.
He argues that however, the assessing officer of the customs department rejected the declared value and reassessment was done by increasing the assessable value, as MT to US% 740 per MT for the levy of customs duties and taxes, which has been calculated, accordingly, consequently, total price of the said consignments has been increased exorbitantly and therefore, the duties and taxes have been enhanced unwarrantedly and therefore, the petitioner submitted a letter for reassessment, this issue is pending despite several meetings, following chart is showing the details as shown GDs.
Citing secretary Revenue Division, collector of customs Appraisement MCC Port Qasim, Ministry of Finances and others as respondents, petitioner pleaded the court to direct the respondents to accept the transaction value in terms of section 25(1) of the customs act, 1969.
