KARACHI: The Directorate General of Customs Valuation under the supervision of DG Samaira Nazir has determined the customs values of cotton fabric vide Valuation Ruling No 764/2015. The customs values of cotton fabric were determined under Section 25-A of the Customs Act, 1969.
According to details, the Model Customs Collectorate MCC Appraisement East contested that the said ruling needs revision being on the lower-side.
The Appraisement Collectorates West and East pointed out that fabric values determined by the Directorate General of Customs Valuation needs upward revision keeping in view the international prices of the cotton fabric.
Therefore, an exercise to determine customs values of cotton fabric under Section 25-A of the Customs Act, 1969 was initiated.
As per the Valuation Ruling, cotton fabric (printed/plain) imported from China, United Arab Emirates, Bangladesh and Turkey would be assessed to C&F $ 4.5/kg, India at $4.4/kg, Indonesia, Malaysia, Thailand, Vietnam and Korea at $ 4.6/kg, Europe, United States of America and Canada at $ 5.1/kg.
While cotton fabric blended (printed/plain) imported from China, UAE, Bangladesh and Turkey at $4.75/kg, India at $4.65/kg, Indonesia, Malaysia, Thailand, Vietnam and Korea at $4.85/kg and of Europe, USA and Canada at $5.5/kg.
And, other cotton fabric (printed/plain) from China, UAE, Bangladesh and Turkey at $ 4.5/kg, India at $4.4/kg, Indonesia, Malaysia, Thailand, Vietnam and Korea at $4.6/kg and Europe, USA and Canada at $5.1/kg.
In cases where declared/transaction values are higher than the Customs values determined in this Ruling, the assessing officer shall apply those values in terms of Sub Section (1) of Section 25 of the Customs Act, 1969. In case of consignments imported by air, the assessing officer shall take into account the differential between air freight and sea freight while applying the Customs values determined in this Ruling.
