KARACHI: The Directorate General of Customs Valuation revised the customs value of vehicles above 1800 CC, Japan origin through Valuation Ruling No: 1051/2017 under Section 25A of the Customs Act, 1969.
According to details, the Custom Values of vehicles above 1800 CC, Japan origin model 2009 to 2013 were determined under section 25-A of the Customs Act, 1969, vide Valuation Ruling No, 655/2014 dated 28-03-2014 and amendment/addendum dated 14-04-2014.
A representation was received from the custom appraisement East that existing valuation ruling pertains to Japan origin vehicles of model years 2009 to 2013 and Japanese vehicles of Model 2014 to 2015 are being imported with different specification therefore values of the same may be determined.
Therefore, an exercise was conducted to determine the custom values of the subject vehicles for made year 2014 and 2015 under section 25 A of the custom act 1969, to reflect the prices prevailing in the International Market.
Sources said that, meetings were held with stakeholders including representatives of M/s Indus Motors, M/s Suzuki Motors and the representatives of All Pakistan Motors Dealers Association (APMDA) Karachi to obtain stakeholders inputs of valuations of Vehicles above 1800 CC Japanese Origin, Officers From MCC, Appraisement East, West also attended the meeting.
The local assemblers including M/s Indus Motors private limited were of the view that new models of Japanese origin vehicles may be acquired from Manufacturers price guide book showing MSRP and value may be determined after allowing 20% discount in MPRS in lieu of local taxes consumption taxes and commission and others charges.
The Valuation Method provided in the Section 25 of the Customs Act, 1969, were followed. The transaction value method under sub-section (1) of section 25 ibid was found inapplicable because sufficient information was not available as per law, Identical/similar goods valuation methods provided in Sub-Sections (5) & (6) of Section 25 ibid furnished unreliable values and wide variation in the declared Values.
Market enquiry in terms of sub section (7) of section 25 was also not found helpful in determining the Custom Values of subject Vehicles.
