KARACHI: The Directorate General of Customs Valuation revised the customs value of I.V. cannula/ I.V. catheter through Valuation Ruling No 1105/2017 under Section 25A of the Customs Act, 1969.
According to details, the customs values of I.V. cannula/ I.V. catheter were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling Nos.894/2016, dated 29-07-2016. Some importers approached the Directorate General with the request to revisit the Valuation Ruling in line with the prevailing prices in the international market.
Hence the Directorate General initiated an exercise for determination of customs values of the subject goods.
A meeting with stakeholders was held on 09-03-2017 and the importers were 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.
The meeting was attended by different importers and a local manufacturer. The importers during the meeting were of the view that the prices of the subject commodity were much below than determined by the Directorate General previously, and the Valuation Ruling needed downward revision. They submitted some supporting documents, which were mostly import invoices.
As no agreement could be reached out during the meeting, the contesting parties were advised to submit copies of Bills charged to Governments hospitals, which none of them submitted. Resultantly numerous surveys from different localities were conducted for determination of Customs Values.
