KARACHI: The Directorate General of Customs Valuation has revised the customs values of gas hobs, stoves, cooking range and parts through Valuation Ruling No: 1293/2018 under Section 25A of the Customs Act-1969.
The customs values of gas hobs, stoves and parts thereof were determined vide Valuation Ruling No 618/2013 dated 06-12-2013. The valuation ruling being quite old needed to be revised in line with the prices prevailing in the international markets.
Therefore, the Directorate General initiated an exercise to determine the customs values of afore-mentioned goods under Section 25-A of the Customs Act, 1969.
Meetings with stakeholders were held on 22-12-2017and 16-04-2018.The participants were requested to submit invoice of imports made during last three months showing factual value.
Websites, names and e-mail address of known foreign suppliers / manufacturers of the item in question through which the actual current value could be ascertained.
Copies of contracts made / LCs opened during the last three months showing the value of items in question.
Copies of sales tax paid invoices issued during last four months (excluding duty and taxes) to substantiate the contentions of the importers.
During the meetings, the importers contended that the custom values determined vide Valuation Ruling No. 618/2013 dated 06-12-2013 are reasonable and requested to maintain these values or decrease them further.
However, no body submitted any tangible documents except some import data of lower values in support of their contentions.
Method adopted to determine Customs values: Valuation methods given in Section 25 of the Customs Act, 1969 were applied sequentially to address the valuation issue at hand.
Transaction value method under Sub-Section (1) of Section 25 of the Act ibid was found inapplicable because required information under the law was not available.
Identical and similar goods valuation methods provided in Sub-Sections (5) and (6) of Section 25 of the Customs Act, 1969 provided some reference values but due to wide variations in the declarations the same could not be relied upon exclusively.
