KARACHI: The Directorate General of Customs Valuation revised the customs value of CD-R/DVD-R through Valuation Ruling No 1063/2017 under Section 25A of the Customs Act, 1969.
Customs values of CD-R/DVD-R were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.171/2009, dated 28-10-2009. Some GDs were referred to this Directorate General through provisional. Assessment under Section 81 in light of judgment of honorable High Court in CP No 6918, as the importers had approached this Directorate General for revision of Valuation Ruling.
As the valuation ruling required revision in line with the prevailing prices in the international market, this Directorate General initiated an exercise for determination of customs values of CD-R/DVD-R.
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 the course of meeting, the importers were of the view that the values of CD- R/DVD-R of China origin have considerably reduced in the international market as compared with the values determined in the existing valuation ruling, therefore, the values needed downward revision. They were requested to submit import invoices, sales tax invoices, literature, evidences and other relevant requisite import documents in support of their contentions; they did not provide any documents or evidence to substantiate their contentions.
The importers agreed that work back values obtained from a market inquiry from the market where these CD-R/DVD-R, are traded, like Saddar (Rainbow Centre), Karachi, will actually reflect that the values have actually gone down. No documents were submitted in this Directorate General on or before the said scheduled meeting. Comprehensive market surveys from the relevant markets were conducted already.
