KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has issued Order in Revision No 243/2016 under section 25- A of the Customs Act, 1969.
According to the details, the revision petition was filed by M/s Carewell Traders and others under section 25-D of the Customs Act, 1969 against customs value determined vide Valuation Ruling No.862/2016 dated 22-06-2016 issued under 25-A of the Customs Act, 1969.
During the hearing in the case fixed on 26.7.2016 and 02.8.2016 Arshad Gulzar of M/s Waris Sharif Company appeared and submitted plastic material scan, certificate regarding formula for manufacture of PVC sheet of Guangzhou Xiongxing Plastic Product Co Ltd China and prices of raw materials and work sheet from Shin- Kuen Plastic Co. Ltd Taiwan.
The petitioners also contended that as per formula of raw materials and values mentioned above the unit value of PVC clear transparent flexible sheet should be at $1.20/kg whereas $1.55/kg was determined vide Valuation Ruling No 862/2016.
On the other hand the respondent department submitted that the formula for manufacture of PVC clear transparent flexible sheet submitted by the petitioner although not supported by any international magazine but even then if waste and conversion costs (5%+ 25%) and profit of manufacturer and exporter (10%+10%) and inland freight, sea freight and other Misc charges (5%) are added to cost, the final cost is worked out at $1.578/kg whereas $1.55/kg was determined vide Valuation Ruling No 862/2016. The valuation ruling was correctly and lawfully revised after giving hearing opportunity to all stake holders/ importers.
The inputs during meeting from the participants to determine the customs value were taken into consideration. The department further stated that all valuation methods from sub-section (1) to (8) were properly exhausted sequentially to address the valuation issue in hand and reasons for rejection of the same have also been clearly mentioned in the ruling. Consequently, the impugned valuation ruling was issued under the section 25(9) of the Customs Act, 1969 after examining the import data, on line prices from international websites and by analyzing all the gathered information.
The Director General Customs Valuation Syed Tanveed Ahmed said that I have deliberated on the case record as well as verbal and written arguments put forth by the petitioners and the respondent department. The respondent department submitted that the valuation ruling was correctly and lawfully revised after giving hearing opportunity to all stake holders/ importers. The impugned valuation ruling was issued under section 25(9) of the Customs Act, 1969 correctly.
DG Custom Valuation also stated that I have inferred that customs values have been determined on reasonable and sound basis after giving fair opportunity to the stake holders, in accordance with the law. The Valuation Ruling No.862/2016 dated 02.6.2016, is therefore upheld and revision petition is rejected.
