KARACHI: The Directorate General, Customs Valuation has determined the customs values of acrylic yarn (raw white and dyed) vide Valuation Ruling No 795/2016. The values were determined under section 25-A of the Customs Act, 1969.
According to details, several importers approached this Directorate General for revision of Valuation Ruling 502/2012 dated 4-12-2012 since it was more than three years old. Moreover, Customs Preventive Lahore requested for determination of Customs Values of Indian origin acrylic yarn dyed and Acrylic yarn raw white separately.
The Gujranwala Chamber of Commerce has also made several representations pertaining to determination of customs values of acrylic yarn of Indian origin. In the light of above, it was deemed expedient to revise the aforementioned valuation ruling keeping in view the trends of the international markets.
According to valuation ruling, the customs values for acrylic yarn (raw white and dyed) to be imported from China/Far would be assessed to Clearance and Forwarding value at $ 4.00/kg, India at $ 4.10/kg and India via land route at $ 3.90/kg..
While, acrylic yarn to be imported China/Far East would be assessed to Clearance and Forwarding value at $ 4.40/kg, India at $ 4.50/kg and India via land route at $ 4.30/kg.
