KARACHI: Directorate General of Customs Valuation has decided to review the customs values of cereal foods and a meeting of stakeholders has been convened on February 1, 2016.
Sources told Customs Today that the importers and stakeholders have been asked to bring invoices of imports during the last three months showing factual values.
The Directorate General also directed the stakeholders to provide website, names and e-mail addresses of known foreign suppliers of the item in question through which the actual current value can be ascertained. Further, copies of contracts made/ letter of credit opened during the last three months showing the value of items in question.
The directorate also asked the stakeholders to provide the 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.
In addition, the stakeholders have been asked to bring any other relevant document, test report, literature and representative sample along with them and proposed calculation in support of their contentions so that the meeting is purposeful and the issue is decided quickly.
Amid Hormuz instability, attention shifts to Pakistan’s Gwadar port
GWADAR: Iran has closed and reopened the Strait of Hormuz several times since the US-Iran war began in February. When...
