KARACHI: The Directorate General of Customs Valuation has revised the customs values of iron and steel and stainless steel kitchenware/utensils Valuation Ruling No: 1302/2018 under Section 25A of the Customs Act-1969.
It was brought to the notice of this Directorate General that values of kitchenware of iron / steel and stainless steel are being declared to Customs at much lower values than current international values.
Verifications by this Directorate General reaffirmed this stance, therefore, an exercise for the determination of customs value of the subject item was initiated under Section 25-A of the Customs Act, 1969.
A number of meetings with different stakeholders including importers and representatives of clearance formations were scheduled in this office.
The participants were requested to submit following currents before or during the stakeholders’ meetings: Invoice of Imports made during last three months showing factual value.
In spite of lapse of considerable time, no documents or evidences, as requisitioned, were submitted. Importers abstained from participating in the proceedings. Discussions were held with representatives of the clearance Collectorates. Valuation methods given in Section 25 of the Customs Act, 1969 were applied sequentially to address the valuation issue at hand.
Transaction value method under Sub-Section (1) of Section 25 of the Act ibid was found inapplicable because required information under the law was not available. Identical /Similar Goods valuation methods provided in Sub-Sections (5) and (6) of Section 25 of the Customs Act, 1969 were examined for applicability to the valuation issue in the instant case but the same could not be exclusively relied on due to wide variations in the declared values of the subject goods. Thereafter, market inquiries as envisaged under section 25(7) of the Customs Act, 1969, were conducted. On line prices were also obtained to corroborate the findings of the market survey.
