KARACHI: The Directorate General of Customs Valuation has re-determined the values of capacitor (HS Code No.8532) through Valuation Ruling No. 734/2015 under Section 25-A of the Customs Act, 1969.
Earlier the customs set the value of capacitors through Valuation Ruling No. 651/2014 on March 27, 2014, following Section 25 of customs act.
The local manufacturers strongly agitated against lower determination of values.
Following the concerns of manufacturers over low values regarding capacitors, department held meetings with the stake holders in February and March of this year, 2015 to reach a decision.
During the meetings, local manufacturers informed the officials that capacitors are of different types and their values vary significantly. They also showed reservations over very low customs values.
In support of their arguments, they also submitted values of raw materials used in different types of capacitors and asserted that the current values were not even reflective of raw material prices.
After considering the proposal of manufacturers, customs announced new values for capacitors. The official document stated that “From now onward the customs values for capacitor hereinafter specified shall be assessed to duty/taxes at the following customs values:-
Start capacitor/ electrolytic capacitors (for pump/water motors etc. PCT Code 8532.1000, 8532.2200, 8532.2500, 8532.2900 china origin at the rate of $2.80 per kilogram. Start capacitor/electrolytic capacitors (for Fridge/Freezers compressors etc). PCT Code No. 8532.3090 China origin would assessed at the rate of $3.00 per kg, running capacitors (outer plastic casing) for fan, grinder, washing machines, water coolers etc. of china origin would be assessed at $6.00 per kg, while the capacitors in outer metal casing, tubular capacitors, power factor high voltage, power factor low voltage, AC capacitors (for Industrial use) of China origin would be assessed at $6.50 per kg.”
