KARACHI: The Directorate General of Customs Valuation has revised the customs value of circuit breakers through Valuation Ruling No 994/2016 under Section 25A of the Customs Act, 1969.
Customs values of circuit breakers were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.652/2014, dated 27-03-2014. The valuation ruling needed revision in light of prevailing international prices as it was considerably old. Meanwhile a reference was also received from Directorate General of Intelligence and Investigation-FBR, Karachi vide letter No. Appg50/DCl/R&A/AICT/2016/2515 dated 31-08-2016 whereby the Directorate of Intelligence had requested this Directorate to revisit the valuation ruling in light of prevailing international prices as it had found actual invoices of certain importers to be on much higher side. Therefore, this Directorate General initiated an exercise for determination of customs values of circuit breakers. No documents were submitted in this Directorate General on or even after the said scheduled meeting. The meeting was attended by the importers and representatives of Pakistan Electrical & Electric Merchants Association and the officers from field formations. During the course of meeting, the importers were of the view that the values of circuits.
Breakers have considerably reduced in the international market as compared to the values determined in the existing valuation ruling, therefore, the values might be reduced. However, importers did not submit import invoices, sales tax invoices, literature, representative samples, evidences and other relevant requisite import documents in support of their Contentions. They requested that market inquiry should be conducted brand-wise from Bolton market / Marriott Road.
Meanwhile, the Directorate General of Customs Valuation has revised the customs value of stapler machines through Valuation Ruling No 995/2016 under Section 25A of the Customs Act, 1969.
Customs values of stapler machines were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.924/2016, dated 07-09-2016. 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 stapler machines.
