KARACHI: The Directorate General of Customs Valuation has revised the customs value of replacement auto parts vide Valuation Ruling No 1193/2017 under Section 25-A of the Customs Act, 1969.
The Customs values of replacement auto parts were determined vide Valuation Ruling No.661/2014, dated 29-03-2014 and its amendments dated 04.04.2014, 29.08.2014 and 27.02.2015. A number of representations were received from M/s. Motors (Pvt.) Limited that since the Valuation Ruling is more than two years old and values are at lower side as compared to the values prevailing in the current international market. Thus, an exercise was initiated for determination of Custom values of replacement auto parts with a view to reflect the current prices prevailing in the international market.
Meetings were held on 27.07.2016, 29.08.2016, 02.11.2016 and 07.07.2017 with stakeholders including representatives from Pakistan Automotive Auto parts Manufacturing Association (PAAPAM), Pakistan Auto Spare Parts Importers and Dealers Association (PASPIDA), Pakistan Automotive Manufacturer Association (PAMA), representatives of MIS. Indus Motor Company Ltd, M/s. Pak Suzuki (Pvt.) Ltd., local manufacturers of Auto Parts and importers.
The importers / stakeholders were requested to submit invoices of imports during last three months showing factual value. Websites, names and e-mail addresses of known foreign manufacturers of the item in 4-v\ question through which the actual current value can be ascertained.
Copies of Contracts made / LCs opened during the last three months showing the Q. 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.
During the meetings it was observed that local manufacturers and importers were of conflicting views regarding Valuation of replaceable auto spare parts.
