KARACHI: A Special Customs Appellate Tribunal has reserved judgment in 16 identical appeals filed by importers of hardware items.
The two-member Tribunal was comprised of Nadeem Qureshi (Member Judicial) and Member Technical Nazim Saleem.
Shaikh Ghulamullah advocate appearing for the appellants submitted that at the time of placement of order for import Valuation Ruling 697 of 2014 was in place which determined the customs value at a rate of $1.4 per kilogram but later before clearance the value was increased 250 times to US $ 3.11 per kilogram under Valuation Ruling 1075 of 2017 in respect of Knob and Handle Lock (Non-electric) of China origin.
He submitted that in the intervening period prices of raw material used in manufacturer of imported consignment items fell substantially and thus upward revision and 250pc enhancement in duty was uncalled for.
