KARACHI: The Directorate General of Customs Valuation has revised the customs value of rechargeable electric shaver vide Valuation Ruling number 980/2016 determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.582/2013 dated 18-09-2013.
According to details, valuation ruling required revision in line with the prevailing prices in the international market. Therefore, this Directorate General initiated an exercise for determination of customs values of rechargeable electric shavers.
Meetings with stakeholders were held on 27-07-2016. Importers had been requested to furnish the documents before or during the course of meeting invoices of imports during last three months showing factual value.
Websites, names and E-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained.
Copies of contracts made / LCs opened during the last three months showing the value of item in question.
Copies of sales tax invoices issued during last four months showing the difference in price (excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers.
The meeting was attended by the importers and the officers from field formations. Import invoices, sales tax invoices, literature, representative -samples, evidences and other relevant requisite import documents were not submitted in this Directorate General on or even after the said scheduled meeting in support of the contentions of the importers.
During the meeting importers were of the view that the values of Rechargeable Electric
Shavers have reduced in the international market as compared to the values determined in the existing valuation Ruling. Importers requested that market inquiry shall be conducted from the local market. The market inquiry of different brands and specifications was conducted from different markets in Karachi. During the market survey, it was observed that there are significant ferences in values on account of brand names and specifications and prices vary significantly ending on country of manufacture.
