KARACHI: The Directorate General of Customs Valuation has revised the customs values of raw plain decorative paper ruler through Valuation Ruling No: 1025/2017 under Section-25A of the Customs Act, 1969.
According to details, The Customs values of raw plain decorative paper were circulated vide VDB letter No.111 on December 2, 2016. Certain importers have requested the directorate to convert the same in a valuation ruling. An exercise was conducted to determine customs values of raw plain decorative paper in line with current price trend in the international market.
Stakeholders’ meeting was scheduled on February 1, 2017. All participants were requested to submit invoices of imports during the last three months showing factual value, websites, names and e-mail addresses of known foreign manufacturers of the item in a manner 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.
The meeting was attended by several importers of raw plain decorative paper The importers requested that the prices of the subject commodity were lower in the international market as compared to the values circulated vide VDB letter 111 dated December 2, 2016 which were actually values of a different type of quality and color import of, which is less compared to total quantity of import of raw plain decorative paper.
They brought along different samples and explained that prices varied considerably according to color, quality and quantity, of the raw plain decorative paper imported.
They further submitted that a single value may be notified for different types of import of raw plain decorative paper on average values which will ensure smooth clearance and also protect the government revenue.
