KARACHI: The Directorate General of Custom Valuation has issued new valuation order for ball barring under section 25A of the Custom Act 1969 under Valuation Ruling 1386/2019.
Sources said that the appellate tribunal ordered the valuation department to determined the value of the listed brand include namely DPI, SUPER NIN, EURO POWER, VETOR, ORANGE, BEARMAX, BLCK, RICA, FK, WHX, TPS, DPI, KPK, HKM, TP, VRB, HARP, AEP, FAST-M, JED, JYD, MINE, SUPER GOLD, NIN, NYZH,CBB, MTB, CRE, UKS, TOMUT.
The values determined vide previous valuation on ruling Ruling No. 1188/2017 dated 23.06.2017. As customs values of bail bearing and tipper bearing were challenged before the Director General Customs Valuation under section 25-D of the Customs Act, 1969 by Miss. Asghar enterprise and other importers.
The importers filed appeals before the Honorable Custom Appellate Tribunal against the Order-in-Revision. The Appellant Tribunal set aside the old valuation Ruling and Order in Revision up to the extent of appellant’s claim regarding brands, The Appellate Tribunal ordered the Valuation Department to determine values of above listed brands in accordance with section 25 and 25-A of Customs Aet, 1969 (strict senso). The Honorable Customs Appellate Tribunal also ordered change of category from ‘A” to B in respect of G&B brand on the same grounds.
In compliance of Appellate Tribunal’s order, an exercise was initiated in this Directorate General to determine customs values of subject goods in terms of Scction 25-A of the Customs Act, 1969. Last meeting was held on 25.06.2019 which was attended by different stakeholders including importers and representatives from trade.
All the stakeholders were requested to submit the following documents before or during the course of meetings so the customs values could be determined: Invoices of imports during last three months showing customs value should be available at the time of re-valuation.
