KARACHI: The Directorate General of Customs Valuation has revised the customs values of USB Data Traveler/USB Flash Drive /Memory Card and Memory Card Valuation Ruling No 1171/2017 under Section 25-A of the Customs Act, 1969.
Customs values of USB data traveler/USB flash drive were determined under Section 25-A of the Customs Act 1969, vide Valuation Ruling No.1082/2017, dated 15-03-2017. The importers filed revision applications against aforesaid valuation ruling under section 25-D of the Customs Act, 1969. The Director General has remanded back the case to revisit the customs values after considering market realities especially keeping in view trend of legal import vis-à-vis smuggling phenomenon.
Therefore Directorate General initiated an exercise for re-determination of customs value of USB data traveler/USB flash drive /memory card.
A meeting with stakeholders was held on 20-04-2017. Importers had been 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. 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.
During meeting the importers were of the view that the everyday technologies are being upgraded in electronics and its new versions are arriving in the market. Now NAND Technology is being introduced, as a result of which the current USBs have lost value and will be gradually replaced.
