KARACHI: The Directorate General of Customs Valuation has revised the customs value of weighing scales vide Valuation Ruling No 1231/2017 under Section 25A of the Customs Act, 1969.
The customs values of weighing scales were determined under Section 25-A of the Customs Act, 1969 vide Valuation Ruling No.1180/2017 dated 14.06.2017. Being aggrieved with the valuation ruling, some importers filed revision petitions under Section 25D of the Customs Act, 1969 before the Director General, Customs Valuation, Karachi.
The Director General vide Order-in-Revision No.401/2017 dated 12.10.2017 remanded back the case to conduct comprehensive valuation exercise whereby the price variation due to capacity and other related aspects may be investigated thoroughly and to re-determine the customs values.
The meeting was attended by importers and representative from Lahore Chamber of Commerce and Industry, Lahore. The requisitioned documents were, however, not submitted by the participants. They contended that their declarations were correct and reflective of prices prevalent in the market.
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 their contentions on values.
