KARACHI: Customs values of imported artificial / imitation jewellery for determination of duty and taxes at the time of customs clearance.
The Directorate General of Customs Valuation has issued Valuation Ruling No. 1509/2021 dated January 27, 2021.
The directorate said that earlier the customs values of artificial jewellery were determined under Section 25A of Customs Act, 1969 through Valuation Ruling No. 1376/2019 dated May 30, 2019.
The directorate general of customs valuation was tasked by the Federal Board of Revenue (FBR) to identify the items/goods where variation with respect to values in exporting countries viz-a-viz import values in Pakistan were observed and where valuation ruling already exist.
Accordingly, a special team was constituted in Directorate General of Customs Valuation, which identified the subject items where vast variations in declarations/specifications were observed.
Accordingly, an exercise was initiated to re-determine the customs values of artificial imitation jewellery under Section 25A of the Customs Act, 1969.
The directorate invited stakeholders to present evidence of the import values of the goods.
The meetings were attended by representatives from M/s. GA Jahangir & Associates authorized by various importers and stakeholders. The point of view heard in detail to arrive at customs values of subject goods.
The stakeholders claimed that their declared values were true transactional values and may be accepted as such. The stakeholders also submitted their proposal regarding values of artificial jewellery but failed to substantiate said values with documentary evidences.
The customs values of following artificial jewellery on import of various origins have been amended:
- Electroplated white/yellow, without stones/beads:
The customs value enhanced to $3.85/kg from $3.54 on import from China.
The customs value enhanced to $5.40/kg from $4.97 on import from other origins.
- Electroplated white/yellow, with plastic stones / beads:
The customs value enhanced to $4.40/kg from $4.12 on import from China.
The customs value enhanced to $6.55/kg from $6.12 on import from other origins.
- Fancy Electroplated white/yellow, with crystal stones/beads:
The customs values enhanced to $12.5/kg from $11 on import from China.
The customs values enhanced to $27.35/kg from $24 on import from other origins.
In the previous valuation ruling a separate rate for imitation jewellery import from India was given. However, in the latest valuation ruling the rate of the goods on import from India has been eliminated.
