KARACHI: The Directorate General of Customs Valuation revised the customs value of PVC transparent/clear and printed flexible sheets and PVC ceiling film through Valuation Ruling No: 1028/2017 under Section 25A of the Customs Act, 1969.
According to details, the customs values of PVC transparent/clear and printed flexible sheets and PVC ceiling film were earlier determined vide Valuation Ruling No: 862/2016 dated June 2, 2016. Representations were received from commercial importers, for determination of customs value of PVC transparent/clear and printed flexible sheets and PVC ceiling film afresh.
Hence, existing valuation ruling which is over six month old is required to be revised in the light of the honorable Sindh High Court’s orders dated November 10, 2015 in Constitutional Petition No: D- 6918/2015. Since 90 days have passed and representations were received from commercial importers regarding values determined in afore mentioned valuation ruling, an exercise was initiated to re-determine the values of PVC transparent/clear and printed flexible sheets and PVC ceiling film in the light of international price trend, in terms of Section 25-A of the Customs Act, 1969.
A meeting with all the stakeholders including importers and representatives from clearance Collectorates as held on December 21, 2016 to discuss the current international prices of the subject item.
The commercial importers stated that the prices of subject items are showing downward trend in the international markets. The view point of all participants was heard in detail and considered to arrive at Customs value of PVC transparent/clear and printed flexible sheets and PVC ceiling film.
