KARACHI: The Directorate General of Customs Valuation revised the customs value of glass chatons sheet/hot fix sheet with glass chatons through Valuation Ruling No: 1035/2017 under Section 25A of the Customs Act, 1969.
According to details, the customs values of glass chatons sheets/hot fix sheet with glass chatons were circulated vide VDB letter No: 46 dated October 30, 2016. It was deemed expedient to issue a Valuation Ruling hence an exercise was conducted to determine customs values of glass chatons sheets/hot fix sheet with glass chatons in line with current price trend in the international market.
Sources said that meetings in this regard with stakeholders were scheduled on January 31, 2017 & February 6, 2017. The stakeholders 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, copies of sales tax invoices issued during last three 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 one appeared for the scheduled meetings 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.
