KARACHI: The Directorate General of Customs Valuation issued the reference values for sodium formaldehyde sulphoxylate chips form and acetic acid and glacial acetic.
According to details, the Directorate General is populating valuation database values for different items wherein it has been observed that declarations are of wide range and do not correctly reflect values of the items as traded in the international market.
During the scrutiny of previous clearance data, it has been observed that sodium formaldehyde sulphoxylate chips form falling under PCT heading 2831.9010 is being assessed at different values and certain transactions are on very low side.
The Directorate General, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market surveys. Therefore the VDB values of sodium formaldehyde sulphoxylate chips form are as sodium formaldehyde sulphoxylate chips form China origin US$1.525 per kilogram.
Meanwhile, the Directorate issued another valuation of acetic acid and glacial acetic.
The Directorate General, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market surveys. Therefore, the VDB values of acetic acid and glacial acetic of China/Saudi Arabia origin are US$0.37 per kilogram, acetic acid and glacial acetic acid Taiwan origin are 0.50 per kilogram and acetic acid and glacial acetic acid Korea origin are 0.54 per kilogram.
The clearance collectorate may like to consider the values given above before finalizing the assessment of the subject items. If further fine-tuning in specifications and ensuing values are required, collectorate may forward a reference along with detailed justifications and worksheets so that requisite adjustments are accordingly issued.
