KARACHI: The Directorate General Customs Valuation have completed the compiling work of items those Valuation Rulings (VRs) were re-determined/re-valued repeatedly on the instructions of Federal Board of Revenue.
A consolidated list of such cases which were amended or re-valued more than once since last one and half years has been prepared and submitted to high ups of the Directorate General of Customs Valuation.
This document would be presented to the Federal Board of Revenue (FBR) authorities next week.
It may be mentioned here that the FBR has recently directed the Customs Directorate of Valuation to send the list of more than once re-valued items with a view to evaluating the method to be adopted to streamline the working of the Valuation Department.
The FBR is reportedly contemplating to stop the assessment of different items for more than once except in cases of important nature those too not more than twice, sources claimed.
