KARACHI: The Directorate General of Customs Valuation has revised the customs value of multi head embroidery machines through Valuation Ruling No 1043/2017under Section 25A of the Customs Act, 1969.
According to details, customs values of multi head embroidery machines were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.552/2013, dated 30-04-2013. The valuation ruling required revision in line with the prevailing prices in the international market. Therefore, this Directorate General initiated an exercise for determination of customs values of multi head embroidery machines.
Different meetings with stakeholders were held from 3.8.2016 and finally on 13.02.2017. 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 even after the said scheduled meetings. Resultantly numerous surveys were conducted for determination of the customs values. Valuation methods given in Section 25 of the Customs Act, 1969 were followed to arrive at customs values of Multi Head Embroidery Machines.
Transaction value method provided in Section 25 (1) was found inapplicable owing to wide variation in the values being declared to the customs. Identical / similar goods value methods provided in Section 25 (5) & (6) were examined for applicability to the valuation issue in the instant case which provided some reference values of the subject goods but the same could not be exclusively relied on due to wide variation and inadequate information. Stakeholder’s meetings were also scheduled. Thereafter, market enquiry as envisaged under section 25(7) of the Customs Act, 1969, was conducted. For the purpose different markets were surveyed repeatedly.
