KARACHI: The Directorate General of Customs Valuation has revised the customs value Enameled Winding Wire/Copper Coated Aluminum Winding Wire through Valuation Ruling No 1124/2017 under Section 25-A of the Customs Act, 1969.
Background of the valuation issue: Several Reports/Representations were received regarding instances of under invoicing in import of Enameled Winding Wires/Copper coated aluminium winding wire, being cleared under different H.S. Codes like 7605.2900, 7605.1100, 8544.1900, 7605.1900, 7408.1900, 8501,4090 etc. The Directorate through initial investigation found need to determine values of Enameled Winding Wire in the light of prevailing prices in the international market under Section 25A of the Customs Act, 1969, for uniform applicability, owing to such evidence of mis declaration. Therefore, this Directorate General initiated an exercise for determination of customs values of Enameled Winding Wires/Copper coated Aluminum winding wire under Section 25A of the Customs Act, 1969.
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Various meetings with stakeholders were conducted and a final meeting was held on 15-02-2017. 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.
No documents were submitted in this Directorate General on or before the said scheduled meeting. Method adopted to determine Customs values: Valuation methods given in Section 25 of the Customs Act, 1969 were followed to arrive at customs values of Enameled Winding Wire. Transaction value method provided in Section 25 (1) was found inapplicable owing to ide 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 the instant case which provided some reference values of the subject goods but the same could not be exclusively relied upon due to wide variation in declared values of subject goods.
