DG Customs Valuation revises valuation of rubber foam insulation

KARACHI: Directorate General of Customs Valuation issued fresh valuation of rubber foam insulation pipes vide Section 25-A of Customs Act 1969.

According to details, earlier, Directorate of Customs Valuation issued customs valuation of rubber foam insulation through Valuation Ruling No. 332/2011 on June 4, 2011. Sources told Customs Today that many importers approached Sindh High Court for revision of customs values of rubber foam insulation.

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After reviewing the plea of importers, Customs Valuation decided to issue fresh valuation ruling of rubber foam insulation.

Now according to fresh ruling China origin rubber foam insulation will be charge @$3.30, while rubber foam insulation imported from UAE will be charged at $3.15, Malaysian $3.30, Thailand $3.45 while rubber foam insulation of other origins will be charge @$4.15.