KARACHI: Directorate General of Customs Valuation has determined the customs value of synthetic rubber NBR and SBR vide Valuation Ruling No.579/2013 dated 13-09-2013.
According to details, the trade community has been demanding revision in prices of this commodity owing to downward trend in its prices in international market.
According to the valuation ruling, the synthetic rubber SBR PCT Heading 4002.1900, proposed PCT for WeBOC 4002.1900.1000 of all origins would be accessed to customs values clearance and forwarding at $ 1.60/kg and synthetic rubber NBR, PCT Heading 4002.5900, proposed PCT for WeBOC 4002.5900.1000 of all origins would be accessed to customs values clearance and forwarding at $ 1.90/kg.
In cases where declared/transaction values are higher than the Customs values determined in this ruling, the assessing officers 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.
The values determined vide this ruling shall be applicable customs value for assessment of subject imported goods until and unless it is rescinded or revised by the competent authority in terms of Sub-Sections (1) or (3) of Section 25-A or section 25-D of the Customs Act, 1969.
