KARACHI: The Directorate General of Customs Valuation has revised the customs value of schoolbags, briefcases and laptop bag through Valuation Ruling No 1008/2017 under Section 25-A of the Customs Act, 1969.
According to the details, the customs values of schoolbags, briefcases and laptop bags were determined under Section 25-A of the Customs Act, 1969, vide Valuation Ruling No.867/2016 dated 08.06.2016.
Several importers submitted representations for revisiting the above mentioned VDB values to reflect the current price trend in the international market.
An exercise was undertaken to examine contents of the importers’ request and to determine the Customs values of the subject goods in the light of prevailing international market prices. Stakeholders’ meetings were scheduled on 13.12.2016 and 20.12.2016.
All participants were requested to submit imports invoice during the last three months, showing the factual values. 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 three 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 second meeting was attended by commercial importers of schoolbags. They submitted that the prices of school bags were considerably lower in the international market. They requested that market enquiry be conducted from wholesale markets in the city.
