KARACHI: The Directorate General of Customs Valuation has revised the customs value motorcycle parts through Valuation Ruling No 967/2016 under Section 25-A of the Customs Act, 1969.
Customs values of motorcycle parts were earlier determined vide Valuation Ruling No.685/2014, dated September 15, 2014. M/s.Memon Motors (Pvt) Ltd., M/s. Razzy Motors (Pvt) Ltd and M/s D.S. Motors (Pvt) Ltd, inter alia challenged the said valuation ruling vide Suit No. 2556/2014, 2557/2014 and 2558/2014 before the Sindh High Court.
The court suspended the said valuation ruling vide order dated: December 22, 2014. The aforementioned motorcycle manufacturers also filed another suit No. 166/2015 before the SHC and challenged the values of OEM brand / genuine auto parts of impugned valuation ruling No. 685/2014 dated September 15, 2014 referred to above. The court allowed interim release of the consignments and the cases are still in the court.
Since the valuation ruling was suspended by the court, therefore, this directorate filed an urgent application before the SHC with prayer to allow the revision of V.R 685/2014 to reflect current price trend prevailing in the international market and on the grounds that the said ruling was more than two years old.
The said valuation ruling may be revised in the light of material, local market inquiry and international prevailing prices. Therefore, this directorate initiated an exercise for determination of custom values of motorcycle parts. Importers had been requested to furnish the relevant documents in order to revise the values of the said items.
