KARACHI: The Directorate General of Customs Valuation has determined the customs values of press-fasteners, snap-fasteners, press-studs, and parts vide Valuation Ruling 746/2015.
It may be mentioned here that a reference was received by the Directorate General of Customs Valuation from the Clearance Collectorate regarding determination of customs values of press-fasteners, snap-fasteners, press-studs, and parts. An exercise to determine the customs values of subject goods was taken up with a view to reflect the current prices prevailing in the international market.
Later, it was decided that the press-fasteners, snap-fasteners, press-studs, and parts of iron/steel (magnetic) under PCT 9606.1000 of China would be assessed to duty/tax at $1.2 per kg, Taiwan origin at $1.3 per kg and Japan origin at 1.45 per kg.
Press-fasteners, snap-fasteners, press-studs, and parts (metallic-non-magnetic, including brass) under PCT 9606.1000 of China would be assessed to duty/tax at $2.5 per kg, Taiwan origin at $2.6 per kg and Japan origin at $2.9 per kg.
Press-fasteners, snap-fasteners, press-studs, and parts of plastic under PCT 9606.1000 of China would be assessed to duty/tax at $1.5 per kg, Taiwan at $1.6 per kg and Japan at 1.75 per kg.
