KARACHI: The Directorate General of Customs Valuation revised the customs value of baskets made of cane through Valuation Ruling No 1102/2017 under Section 25A of the Customs Act, 1969.
According to details, the Customs values of baskets made of cane were circulated vide VDB letter No.167 dated 20.01.2017. It was deemed expedient to issue a Valuation Ruling hence an exercise was conducted to determine Customs values of baskets made of cane in line with current price trends in the international market.
Stakeholders’ meeting were scheduled on 02-03-2017 & 14.03.2017. All participants were requested to submit 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 three months showing the difference in ice (excluding duty and taxes) to substantiate that the benefit of difference in price issued on to the local buyers.
No one appeared for the scheduled meeting nor any documents were received from any stakeholders which shows that the importers are disinterested in proceedings and values are considerably higher than their declarations and by keeping themselves absent, they may have created an alibi for being unheard.
