KARACHI: The Directorate General of Customs Valuation revised the customs value of remote control through Valuation Ruling No 1065/2017 under Section 25A of the Customs Act, 1969.
According to details, the customs values of remote control for CRT TV & DVD players were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.581/2013, dated 16-09-2013. The Valuation Ruling required revision in line with the prevailing prices in the international market.
Therefore, the Directorate General initiated an exercise for determination of customs value of remote control.
Sources said that a meeting with stakeholders was held on 15-02-2017. Importers were requested to furnish invoices of imports during last three months showing factual value, websites, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained, copies of contracts made/LCs opened during the last three months showing the value of item in question and 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.
However, no documents were submitted in the Directorate General on or even after the said scheduled meetings. Consequently, numerous surveys were conducted for determination of the customs values.
Sources said that the valuation methods given in Section 25 of the Customs Act, 1969 were followed to arrive at customs values of Remote Control. Identical/similar goods value methods provided in Section 25 (5) & (6) were examined for applicability to the valuation issue in the instant case which provided some reference values of the subject goods but the same could not be exclusively relied upon due to wide variation in declared values of subject goods.
