KARACHI: The Directorate General of Customs Valuation has re-determined the Customs values of branded LED Television sets under Section 25-A of the Customs Act, 1969 through a Valuation Ruling No.675/2014.
The said Valuation Ruling has superseded the previous Valuation Ruling No. 670/2014, issued on 31 March, 2014 regarding branded LED Television sets.
The Customs values of LED Television sets of Sony Bravia, Samsung, LG, Panasonic brands from Far East, Middle East and China origins have been determined through Valuation Ruling No.675/2014.
The specifications of the 32 inches, 40/42 inches, 46/47 inches and 55 inches branded LED Television sets have also been determined in the said Valuation Ruling.
According to the details, Customs values of branded LED Television were determined under Section 25-A of the Customs Act, 1969, vide Valuation Ruling No.670/2014 dated 31 March, 2014 on a reference from MCC-Appraisement (West), Karachi vide letter C. No. SI/Misc/192/2014-VI dated 19 March, 2014, in consideration of decline in import of LED Television due to its higher valuation. This Valuation Ruling was, however; disputed and a revision petition was filed under Section 25-D of the Customs Act, 1969, before the Director General of Customs Valuation, Karachi.
The Director General of Customs Valuation vide Revision Order No 35/2014 on 15 April, 2014, remanded the case back to the Director Customs Valuation for issuance of fresh Valuation Ruling and determination of Customs values of LED TV under Section 25-A of the Customs Act, 1969, after affording due opportunity of hearing to the petitioner and other stakeholders including the Customs Collectorate of Clearance, within a period of two weeks, in accordance with law.
