KARACHI: The Directorate General of Customs Valuation revised the customs value of file covers, file folders, pouches and envelopes made of plastic through Valuation Ruling No 1136/2017 under Section 25A of the Customs Act, 1969.
According to details, in exercise of the powers conferred under Section 25-A of the Customs Act, 1969, Customs values of file covers, file folders, pouches and envelopes made of plastic were earlier determined vide VDB No.134/2016 dated, 29-12-2016. The items were selected to issue Valuation Ruling U/S 25 A of the Custom Act 1969, because there was wide variation in the declared and assessed values.
Therefore an exercise was taken for determination of customs value of file covers, file folders, pouches and envelopes made of plastic afresh.
Meetings with all the stakeholders including importers and representatives from clearance Collectorate were held on 06-03-2017 & 29-03-2017 to discuss the current international prices of the subject item. No one appeared to participate the meeting for determination of Customs Values of file covers, file folders, pouches and envelopes made of plastic.
Valuation methods provided in Section 25 of the Customs Act, 1969 were duly applied in their regular sequential order to address the particular valuation issue at hand.
The transaction value method as provided in Sub-Section (1) of Section 25, found inapplicable in light of the wide variety of invoices submitted at import stage the veracity of which could not be ascertained fully, hence requisite information required under law was not available to arrive at the correct transaction value. Identical / similar goods value method provided vide Sub-Sections (5) & (6) of Section 25 ibid were examined for applicability to determine Customs value of subject goods, this data provided some references.
