KARACHI: The Directorate General of Customs Valuation has revised the customs values of menthol crystals through Valuation Ruling No: 1277/2018 under Section 25A of the Customs Act-1969.
Earlier the customs values of the subject menthol crystals were determined vide Valuation Ruling No.650/2014 on March 26, 2014 which was later re-determined vide Order-in-Revision No.234/2016 on August 18, 2016.
There were several representations from importers, wherein they contended that customs values determined in the existing valuation ruling are not reflective of prices in international markets and need to be re-determined accordingly.
All the stakeholders requested that the values determined vide said Valuation Ruling and Order-in-Revision may be reviewed in the light of prevailing international market prices. M/s. A.0. Enterprises stated that they were importing synthetic menthol crystal smoke grade from Singapore and are being assessed_ under the category of, all other origins” goods and customs value determined for all origin is much higher than the value for India and China origin goods.
They further stated that smoke grade call DL Menthol Crystal is different from other grades of Menthol Crystals, however, they could not disclose the parameters to verify through physical or chemical analysis to distinguish between DL Menthol Crystal smoke grade and other grades of Menthol Crystals. In the meeting the Pakistan Chemicals and Dyes Merchants Association also showed their inability to provide such parameter to differentiate between afore said grades.
M/s Asad Corporation and M/s Multi Link also requested for the downward revision of the said Valuation Ruling. They emphasized that the international prices of menthol crystals have no doubt slightly increased as compared to the prices of last year, but still they are lower than the values already determined Vide the said Valuation Ruling and need to be reviewed downward. The view point of all participants was heard in detail and considered to arrive at the Customs values of Menthol Crystals.
