KARACHI: The Directorate General of Customs Valuation has revised the customs values of children games as well as switches and sockets under Section 25A of the Customs Act, 1969.
The customs value of the children games has been revised through Valuation Ruling No 992/2016. Earlier, the values of the children games and toys were determined vide Valuation Ruling No.871/2016 issued on June 20, 2016. Revision petitions were filed under Section 25D of the Customs Act, 1969, before the Director General of Customs Valuation, Karachi by M/s NT Computers and others, which were disposed of vide Order-in-Revision No.236/2016 DG(V)Val.Rev./839/2016/9300 issued on August 18, 2016. The Director General had ordered the officials concerned to conduct fresh inquiries and issue separate Valuation Rulings for children games and toys. Therefore, this Directorate General initiated an exercise for the determination of customs values of children games.
The Directorate General of Customs Valuation has also revised the customs value of switches and sockets through Valuation Ruling No 993/2016. Earlier, the customs values of switches and sockets were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.652/2014 issued on March 27, 2014. The Valuation Ruling required revision in line with the prevailing prices in the international market. Therefore, this Directorate General initiated an exercise for determination of customs values of switches and sockets.
The valuation methods given in Section 25 of the Customs Act, 1969 were followed to arrive at the customs values of switches and sockets. Transaction value method provided in Section 25 (1) was found inapplicable owing A6\4, vide variation in the values being declared to the customs. Identical / similar goods value methods provided in Section 25 (5) & (6) were examined for applicability to the valuation issue in the instant case which provided some reference values of the subject goods but the nine could not be exclusively relied upon it due to variations in declared values of the subject goods.
