KARACHI: The Directorate General of Customs Valuation has revised the customs values of various types of honey from different origins through Valuation Ruling No 1152/2017 under Section 25A of the Customs Act, 1969.
According to details, the customs values of various types of honey from different origins were determined vide Valuation Ruling No.966/2016 dated 15.11.2016. Some importers filed Revision Petitions under Section 25D of the Customs Act, 1969.
The Director General vide Order-in-Revision No.295/2017 dated 25.01.2017 remanded the matter back to the Director Valuation, Karachi, for redetermination of value of Honey keeping in mind the different retail packing thereof. Hence an exercise was initiated by this Directorate General to determine the customs values of honey afresh.
A meeting was scheduled on 28-03-2017 with stakeholders of subject goods which was attended by representatives of clearance Collectorates also. All stakeholders were requested to submit copy of GDs & invoices of imports during last three months showing factual value. Website names and email addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained.
Copy of contract or any other document through which price has been finalized with the supplier of the goods. Copy of L/Cs and contract made during the last three months showing the values of the item in question. v) as well as copies of Sales Tax Invoices issued during last three months showing the difference in price (excluding duty and taxes) were also sought to substantiate that the benefit of difference in price is passed on to the local buyers.
The importers / stakeholders contended that the subject goods were imported at values lower than those determined Valuation Ruling No.966/2016 dated 15.11.2016. The importers insisted that since the subject goods are mainly being sold at Super and General Stores, therefore, the margins of the retailers are high thus adding to the expenses incurred by the importers besides additional costs like marketing expenses etc. The view point of all stakeholders was considered and deliberated upon before arriving at customs values of Honey.
Valuation methods provided in Section 25 of the Customs Act, 1969 were duly followed and applied sequentially to address the valuation issue at hand.
