KARACI: The Directorate General Customs Valuation has revised customs values on the import of unbranded and low-end brands suitcases of artificial leather from China and other origins for accurate assessment of customs duty at the import stage.
In this connection, the Federal Board of Revenue (FBR) directorate has issued a new valuation ruling.
The customs values would range between $40-70 per set (C&F) for 3 pieces to five pieces of suitcases as per specifications mentioned in the new ruling.
According to the ruling, the customs values of suitcases were determined under section 25A of the Customs Act 1969 vide Valuation Ruling No.1688/2022 which was set aside by the Director General of Customs Valuation with directions to re-determine the customs values of Suitcases (Soft & Hard Types) of Artificial Leather. Therefore, an exercise was undertaken by the Directorate to determine the same.
In line with the statutory sequential order of Section 25 of the Customs Act, 1969, the Directorate conducted a market survey under sub-Section (7), read with Section 25 (9), of Section 25 of the Customs Act, 1969. Various Wholesale and retail markets were visited to observe the actual prices of suitcases (soft & hard types) of artificial leather (low-end brands and unbranded).
Based on the available data collected, the values of suitcases have been determined under sub-Section (7), read with Section 25 (9), of Section 25 of Customs Act, 1969.
This Valuation Ruling is only for low-end brands/un-branded and not applicable for branded goods like, Vuitton, Carlton, Samsonite, American Tourister, Summit, Sonada, and Logel, it added
