KARACHI: The Directorate General of Customs Valuation has revised the customs values of chocolate of Iran origin through Valuation Ruling No 1175/2017 under Section 25A of the Customs Act, 1969.
According to the details, the Director General of Customs Valuation vide Order in Revision No. 333/2017 dated 18-04-2017 remanded matter of customs values of Iran origin chocolates for re-determination. Hence, an exercise was conducted to determine Customs values of chocolates of Iran origin in line with current price trends in the international market.
A meeting was scheduled on 29-05-2017 with stakeholders and importers of subject goods. All stakeholders are requested to submit invoices of imports during last three months showing factual value.
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 differences in price (excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers.
The importers / stakeholders contended that market surveys were earlier conducted from high end retail outlets and requested that different markets be consulted for the survey of subject goods. They further insisted that subject goods were actually being purchased / imported at much lower values than those determined vide Valuation Ruling No. 1042/2017 dated 13.02.2017.
They requested that the values be determined keeping in view the contents and quality of Chocolates and the difference in freight as they mostly import the subject goods via id route from Iran. Method adopted to determine Customs values: Valuation methods provided in s n 25 of the Customs Act, 1969 were duly followed and applied sequentially to addresses valuation issue at hand. Transaction value method provided in Sub-Section (1) of Section.
