KARACHI: The Directorate General of Customs Valuation revised the customs value of stainless steel cutlery set (low end/unpopular brands) Chinese origin through Valuation Ruling No 1108/2017 under Section 25A of the Customs Act, 1969.
Earlier the Directorate General conducted an audit of clearance values of subject goods and found the same to be on lower side in comparison with the international trading prices and the local selling prices. As an immediate remedial measure, the Directorate General circulated customs values of cutlery set made of stainless steel Chinese origin as one of the risk assessment measures vide Valuation Database letter No.154 dated 06-01-2017. For uniformity of application the Directorate General then initiated an exercise for determination of customs values of Chinese origin cutlery set made of stainless steel under section 25A of the Customs Act, 1969.
A meeting was scheduled on 09-03-2017 one person attended the said meeting. All 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 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 requisite documents were not submitted by them for determination of customs value of ct item. Hence, the matter could not be pended for unlimited period.
