KARACHI: The Directorate General of Customs Valuation has revised the customs values of printed circuit boards through Valuation Ruling No 1168/2017 under Section 25A of the Customs Act 1969.
According to the details, the customs values of printed circuit boards were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.555/2013, dated 04-06-2013.
The valuation ruling required revision in line with the prevailing prices in the international market. Therefore, this Directorate General initiated an exercise for determination of customs values of printed circuit boards.
Stakeholders’ participation in determination of Customs values: Meetings with stakeholders were held on 16-02-2017 and 18-05-2017. Importers had been 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.
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.
During the course of the meetings, the stakeholders pointed out that values of printed circuit board required revision in accordance with current price trends.
They stated that printed circuit board single / double sided (bare board) and single / double sided printed circuit board assembly (stuffed) are of different in prices, thus needed to be differentiated accordingly. Resaltantly, this Directorate General conducted a comprehensive exercise to determine customs values of printed circuit boards of both types viz bare board (single/double side) and stuffed (single/double side).
Valuation methods given in Section 25-A of the Customs Act, 1969 were followed to arrive at customs values of Printed Circuit Board.
Transaction value method provided in Section 25 (1) was found inapplicable owing to wide variation in the values being declared to the customs. 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.
