KARACHI: The Directorate General of Customs Valuation has re-determined the values of tractor parts vide Valuation Ruling 728/2015.
The values were re-determined on the request submitted by traders. It may be mentioned here that earlier the customs values of tractor parts were determined in 2011.
It may also be mentioned here that the Lahore High Court (LHC) in March 2015 ordered the authorities concerned to consider all pending applications of the petitioners under the valuation ruling section.
Later, the Valuation Department invited a number of stakeholders and representatives, seeking their inputs to re-determine the values of tractor parts as per the international prices.
According to details, a large number of representations were received in the directorate to revise the values keeping in view the actual price trends in the international market.
After analysing the suggestions, an order was issued with the direction to revise the current valuation ruling with the existing price.
According to the latest valuation, tractor parts’ value per kilogramme would be assessed for different origin duty and taxes at the following rates:
Piston set for China origin at $1.90, Turkey & Brazil origin at $2.10 and others origins will be $2.28, ring set for China origin at $2.50, Turkey & Brazil origin at $2.75 and others origins will be $3.00, cylinder blocks for China origin at $1.10, Turkey & Brazil origin at $1.21 and others origins will be $1.32, cylinder heads for China origin at $1.10, Turkey & Brazil origin at $1.21 and others origins will be $1.32, cylinder liners for China origin at $1.10, Turkey & Brazil origin at $1.21 and others origins will be $1.32, inlet & exhaust valves for China origin at $1.55, Turkey & Brazil origin at $1.70. and others origins will be at $1.86, connecting rods & caps for China origin at $1.30, Turkey & Brazil origin at $1.43 and others origins will be $1.56, tappets, push rods & rocker for China origin at $1.80, Turkey & Brazil origin at $1.98 and others origins will be $2.16, rear end housing for China origin at $1.30, Turkey & Brazil origin at $1.43 and others origins will be $1.56, fuel pump for China origin at $1.40, Turkey & Brazil origin at $1.54 and others origins will be $1.68, water pump assembly for China origin at $1.20, Turkey & Brazil origin at $1.32 and others origins will be $1.44, main shafts, counter shafts & cam shafts for China origin at $1.35, Turkey & Brazil origin at $1.48 and others origins will be $1.62, crown wheel pinion & parts/gear set for China origin at $1.30, Turkey & Brazil origin at $1.43 and others origins will be $1.56, crank shaft assembly for China origin at $1.20, Turkey & Brazil origin at $1.31 and others origins will be $1.44, gaskets & joints for China origin at $1.20, Turkey & Brazil origin at $1.32 and others origins will be assessed at $1.44.
