KARACHI: The Directorate General of Customs Valuation has revised the customs value of refrigerators through Valuation Ruling No 1036/2017 under Section 25A of the Customs Act, 1969.
According to details, the Customs values of refrigerators were determined under Section 25A of the Customs Act, 1969, vide Valuation Ruling No.541/2013, dated 24-01-2013. Sources said that a number of representations were received to re-determine the customs values afresh in the light of existing international market prices, according to different capacities. Therefore, this Directorate General initiated an exercise for determination of customs values of refrigerators.
Different meetings with stakeholders were held. Importers were requested to furnish invoices of imports during last tree 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.
The importers were of the view that the values of refrigerators have gone down considerably in the international market. Resultantly the difference between the present international prices and the previous values determined vide Valuation Ruling No.541/2013 dated 24-01-2013 is increasing every day and the VR values of refrigerators have no relevance with actual prevailing international prices. Some documents were submitted in this Directorate General. As a result, numerous surveys were conducted for determination of the customs values.







