KARACHI: The Federal Board of Revenue’s Directorate General of Valuation has determined values of toys/games through subject valuation ruling after detecting flaws in Valuation Ruling No.871/2016.
NT Computers earlier raised a point that they have imported a consignment of Electric Indoor Child red swing/riders with token and accessories and sought clearance of the goods under H.S. Code 9508.9000. The goods were examined by the shed staff and confirmed their description but during assessment, the concerned group enhanced the declared value of the goods at $30/Kg in the light of Valuation Ruling No.871/2016.
After detailed deliberation, Customs Valuation Director General Syed Tanveer Ahmed said the Valuation Ruling has been found in order. However two items need re-examination by the Director Valuation.
However, the Department acknowledged that some different setups were not considered while determining values under serial No. 49 and 50 and the values is serial number 49 & 50 only covered Rides without base and accessories.
Moreover, values determined under serial No. 71 & 72 for inflatable toys (swimming pert) are found to be much higher than values of the types of inflatable toys mentioned from at serial No. 73 to 78 and are these in consistent.
Serial No.49, 50, 71 & 72 of the Annexure to Valuation Ruling No.871/2016 are deleted and the clearance Collectorates are advised to finalize their values under section 25 on case to case basis, in accordance with merits of each individual case.
