KARACHI: The Directorate General of Customs Valuation has revised the customs value of gasoline water pump (low end brands) through Valuation Ruling No 1150/2017 under Section 25A of the Customs Act, 1969.
According to details Directorate General notified VDB values of Gasoline Water Pump (Low end brands) vide VDB letter No. 139 dated 30-12-2016. Meanwhile, this Directorate General also initiated an exercise for determination of customs values gasoline water pump (low end brands) under Section 25-A.
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. However, the Lahore Chamber of Commerce & Industry, Lahore submitted a written request that the customs value of said product shall not be fixed higher than US$ 2/Kg. The chamber objected that values notified vide VDB letter No 139 was far higher and owing to higher valuation there was danger of shifting legal import to the smuggling channel. The importers, who attended meeting, were again asked to submit documentary evidence in support of their contention, directly or through chamber of commerce if they liked.
They were also told that the gasoline water pumps were being imported/traded vis-a-vis their capacity in HP, so the values will be determined accordingly. At this their major objection was that at higher capacities especially after 6HP the price doses not increase in geometric progression. It was agreed that the same factor shall be looked into while determining customs values. They were again asked to submit documents to prove their point of view. Despite a considerable lapse of time, the importers have not submitted the requisite documents except some import invoices/ and copies of GDs. Resultantly numerous market surveys were conducted for determination of the customs values.
