KARACHI: Directorate General of Customs Valuation has issued the reference values for purified terephthalic acid.
The Directorate General has initiated an exercise to develop 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 purified terephthalic acid falling under PCT headings 2917.3610 are being assessed at different values and certain transactions are on very low side.
This 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. This office, therefore, has found that the customs values of purified terephthalic Acid are $0.68 /kilogram.
Meanwhile, Directorate General of Customs Valuation has issued the reference values for PVC file covers, file folders, pouches and envelops $2.40 /kilogram. These values are, however, for reference/guidance only and final assessment may be made after considering other factors which have bearing on the customs value.
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, the collectorate may forward a reference along with detailed justifications and worksheets so that requisite adjustments are accordingly issued.
