KARACHI: The Directorate General of Customs Valuation has revised the customs value of galvanized iron and steel ceiling suspension system/tee-grid vide Valuation Ruling No 1281/2018 under Section 25-A of the Customs Act, 1969.
Earlier the customs value of Galvanized Iron and Steel Ceiling Suspension System/Tee-Grid was determined under Section 25-A of Customs Act, 1969 vide Valuation Ruling No. 1120/2017 dated 06.04.2017. However, it needed revision to reflect the current price trend prevailing in international market. This prompted an exercise to re-determine the Custom values of the subject goods under Section 25-A of the Customs Act, 1969.
Meeting \\ ith stakeholders was held on 03.04.2018. The participants were requested to submit invoice of Imports made during last three months showing factual value.
Websites, names and E-mail address of known foreign suppliers / manufacturers of the item in question through which the actual current value could be ascertained. Copies of contracts made / LCs opened during the last three months showing the value of items in question. Copies of Sales Tax paid invoices issued during last four months (excluding duty and taxes) to substantiate their contentions.
Representatives of Collectorate stated that the values are suppressed, keeping in view the increase in the value of its raw material, which are published internationally. Importers on the other hand, requested to decrease values of’ the (Galvanized Iron and Steel Ceiling Suspension System/Tee-Grid. They, however, did not submit any documentary evidence to support their contentions.
Valuation methods given in Section 25 of the Customs Act, 1969 were applied sequentially to address the valuation issue at hand. Transaction Value Method under Sub-Section (1) of Section 25 of the Act ibid was found inapplicable because there were wide differences in values in the declarations. Identical /Similar Goods valuation methods provided in Sub-Sections (5) and (6) of Section 25 of the Customs Act, 1969 were examined for applicability to the valuation issue in the instant case which provided some reference values of subject goods but the same could not be exclusively relied on due to wide variations in the declared values of the subject goods.
