KARACHI: The Directorate General of Customs Valuation has revised the customs value of kraft paper bags to pack 50kg cement through Valuation Ruling No 1032/2017 under Section 25A of the Customs Act, 1969.
According to details, the Customs values of kraft paper bags for 50kg of cement were circulated vide VDB letter No.37 on August 24, 2016. Certain importers have requested the department to convert the same in a valuation ruling. An exercise was conducted to determine customs values of kraft paper in line with current price trend in the international market.
All participants were requested to submit invoices of imports during last three months showing factual value. Website and e-mail addresses of foreign manufacturers were also visited to ascertain the actual values of the paper bags.
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 three months shoeing the difference in price (excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers.
The meeting was attended by importers of kraft paper bags for 50kg of cement. The importers requested that the prices of the subject commodity were lower in the international market as compared to the values circulated vide VDB letter 37 dated 24-08-2016.
They contended that they declare their import values correctly as per their contracts with international manufacturers and suppliers. Some importers submitted sales contracts and commercial invoices, however, the remaining requisitioned documents were not submitted by the importers.
