KARACHI: The Directorate General of Customs Valuation has determined the customs values of telephone cables through valuation Ruling No.732/2015 under Section 25-A of the Customs Act,1969.
According to details, it was brought into the notice of the Directorate General Customs Valuation that telephone cables are being imported at under-invoiced values. Therefore, an exercise to determine the customs values of the subject goods under section 25-A was initiated. The customs officials conducted an in-depth market inquiry to substantiate the authenticity of the claim.
Following the above said exercise, meetings of the stakeholders were held on April 21, 2015 and April 29, 2015 with the Director Customs Valuation, Abdul Rasheed Sheikh in the chair where the participants were apprised with the findings of the survey report.
During the meeting, the importers of the subject goods got exasperated against the working based on the market survey on the ground that telephone networking cable is currently a receding market and cables over 2 pairs move very slow, due to this retailers charge excessive margins on such cables.
The importer participating in the meeting were asked to submit their sales tax paid invoices for the confirmation and justification of their contentions but none submitted the sales tax paid invoices of the imported cables.
The input and feedback of all the stakeholders was taken into account during the meeting and all the available information regarding the subject matter was analyzed and evaluated by all aspects.
Later, the Customs value for telephone cables were determined at $ 2.10, 1.4 and 1.6 per kg for categories A, B and C respectively under PCT Code 8544.4910 and 8544.4990 of China origin.
DG of Customs valuation also directed the assessing officers that in case of consignment imported by air, the officer must take into account the differential between air and sea freight at the time of applying customs value.
