KARACHI: Customs Valuation Director Wasif Ali Memon has revised the customs value of steel files fall under PCT Heading 8203.1000 through Valuation Ruling No 958/2016 under Section 25-A of the Customs Act, 1969.
Since the previous customs values of steels files determined and notified vide Valuation Ruling No.526/2012 dated December 28, 2012 were more than three years old, therefore an exercise was undertaken by this directorate general to revise the same according to trends prevailing in the current international market.
Meetings for the determination of customs values of steel files with stakeholders were scheduled on August 05, 2016 and September 21, 2016. The department asked all the participants to submit the documents including (i) Invoices of imports during last three months showing factual value; (ii) Websites, names and E-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained; (iii) Copies of Contracts made / LCs opened during the last three months showing the value of item in question and copies of sales tax invoices issued during last four months showing the difference in price (excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers, so that correct customs values could be determined.
But, the requisite documents were not submitted by any stakeholders and none appeared in any of the meetings.
Now, steel files hereinafter specified shall be assessed to duty/taxes at the following customs values:-
