KARACHI: The Directorate General of Customs Valuation has revised the customs value of Linear Alkyl Benzene Sulphonic Acid (soft & hard type through Valuation Ruling No 999/2016 under Section 25-A of the Customs Act, 1969.
Consequent upon representation by commercial importers, regarding revision of Valuation Ruling No.880/2016 dated, 28-06-2016 for Linear Alkyl Benzene Sulphonic Acid (Soft & Hard type), an exercise was undertaken to redetermine the Customs Values of Linear Alkyl Benzene Sulphonic Acid (soft & hard type) in terms of Section 25-A of the Customs Act, 1969.
Meeting with all the stakeholders including importers, local manufacturer, Pakistan Chemicals and Dyes Merchants Association and representatives from clearance Collectorates, was held on 16-122016 to discuss the current international prices of the subject item.
The commercial importers stated that the prices of subject items are showing down ward trend in the international markets whereas the local manufacturers stated that prices of raw materials have gone up in international market in last three months and requested to revise the value of Linear Alkyl Benzene Sulphonic Acid (soft & hard type) upward. The view point of all participants was heard in detail and considered to arrive at Customs value of Linear Alkyl Benzene Sulphonic Acid (Soft & Hard type).
Valuation methods provided in Section 25 of the Customs Act, 1969 were duly followed and applied sequentially to address the valuation issue at hand. Transaction value method provided in Sub-Section (1) of Section 25 was found inapplicable because it is generally known to all that majority of invoices produced at import stage are manipulated/fabricated and hence the requisite information required under the law was not available to arrive at the correct transaction value
