KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has issued Order in Revision No.296/2017 under section 25-D of the Customs Act, 1969 against Valuation Ruling No.964/2016 issued on November 11, 2016. The revision petition was filed by M/s Bright Industries Karachi.
The petitioner stated that the value of aluminum metalized metallic yarn M-Type has been fixed at $4 per kg for China/India origin and $7 per kg for other origins. The raw materials used for production of the Nitems of all origins are same. Then why there is vast difference in value of different origins.
The M-type yarn pure silver coated is imported in a very small quantity and not in bulk quantity or container basis. Its price should be fixed at $21 instead of $7 per kg. Similarly the price of MX-Yarn pure silver coated should be fixed at $14 instead of $9 per kg.
They said that under valuation ruling No. 876/2016 dated 23-06-2016, the value of raw material pet film un-coated film (HS Code 3920.6200) has been fixed at $1.90 for China origin and $1.95 for other countries having difference of 5 cents i.e. 2.63 percent.
Due to such a vast difference in valuation, the import of metallic yarn has become quite impossible from other countries (including Muslims countries) so import of aluminum coated metallic yarn should be allowed from all countries at the same rates.
Director General Customs Valuation in his order stated that the record of the case has been examined thoroughly. I have considered the importers submission and import documents submitted by the manufacturer cum importer the Dubai should not fall in other origins and should not be equated with Japan. The values are, therefore, revised for Dubai origin (a $4.05/kg and Japan @ $7.00/kg.
