KARACHI: The Directorate General of Customs Valuation has revised the customs values of Lincomycin injection, Metronidazole injection, Gentamycin injection 80MG 2ML, and Oxy tetracycline capsules through Valuation Ruling No 1094/2017 under Section 25A of the Customs Act, 1969.
According to details, the customs values of Lincomycin injection, Metronidazole injection, Gentamycin injection 80MG 2ML, and Oxy tetracycline capsule were earlier determined vide VDB No.104/2016 dated, 29-11-2016, 105/2016 dated, 30-11-2016 and 174/2017 dated, 03-02-2016 and VDB No.147/2017 dated,03-01-2017. Representations were received from commercial importers, for determination of customs values of the injections and capsules afresh.
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Meeting with all the stakeholders including importers and representatives from clearance Collectorates, was held on 16-03¬2017, to discuss the current international prices of the subject items. The commercial importers stated that the prices of subject items are showing downward trend in the international markets.
The viewpoint of all participants was heard in detail and considered to arrive at Customs values of Lincomycin injection, Metronidazole injection, Gentamycin injection 80MG 2ML, and Oxy tetracycline capsules.
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.
However, it was found that he same cannot be solely relied upon due to the absence of absolute demonstrable evidence of qualities, and quantities of commercial level etc., and also it was observed that importers usually provided misleading description while declaring goods, as other types and varieties of similar goods to avoid the application of valuation ruling. Information available was, hence, found inappropriate.
