KARACHI: The Directorate General of Customs Valuation revised the customs value gas/electric water heater through Valuation Ruling No 1076/2017 under Section 25A of the Customs Act, 1969.
According to details, the Directorate General earlier circulated VDB values of gas/electric water heater vide Valuation Data Base Nos. 85 dated 18-11.- 2016 & 171 dated 26-01-2017. Some importers approached this Directorate General and requested to revisit the customs values notified vide aforesaid VDB letters.
Sources said that a meeting with stakeholders was held on 02-03-2017. 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 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 this Directorate General on or before the said scheduled meeting.
During the course of the meeting, the stakeholders claimed that the difference in values of gas/electric water heaters of low end brands vis-a-viz notified brands was more than the actual, and it needed to be reduced.
Secondly, they provided a list of other brands which were equivalent to those notified vide the VDB. They were requested to submit import invoices, sales tax invoices, literature, evidences and other relevant requisite import documents in support of their contentions. They however, provided a few copies of import invoices.
