KARACHI: The Directorate General of Customs Valuation has revised the customs value of Phenolic Resin, Polyurethane Resin, Melamine Resin, Alkyd Resin and Epoxide Resin through Valuation Ruling No 1146/2017 under Section 25-A of the Customs Act, 1969.
According to details the customs values of Phenolic Resin, Polyurethane Resin, Melamine Resin. Alkyd Resin and Epoxide Resin is selected to determine the Customs values under section 25-A of Custom Act 1969 due to wide variation of declared and assessed values. Therefore to give level playing field to all importers, the Customs value of Phenolic Resin, Polyurethane Resin, Melamine Resin, Alkyd Resin and Epoxide Resin are selected for determination and uniform application across the board to all.
Meeting with all the stakeholders including importers and representatives from clearance Collectorates, was held on 29-03-2017 and 12-04-2017, to discuss the current international prices of the subject item. Representations received from commercial importers which are also examined in the light of PRAL data, and international websites. The view point of all participants was heard in detail and considered to arrive at Customs value of Phenolic Resin, Polyurethane Resin. Melamine Resin Alkyd Resin and Epoxide Resin.
