KARACHI: The Directorate General of Customs Valuation has revised the customs value of Zippers {Low end Brands) in cut to size and Rolls through Valuation Ruling No 1112/2017 under Section 25A of the Customs Act, 1969.
The customs values of zippers (low end brands) in cut to size and rolls were determined vide Valuation Ruling No.887/2016, dated 27-07-2016. Certain importers filed a revision petition before the Director General of Customs Valuation, Karachi under Section 25-D of the Customs Act, 1969, which were disposed of vide Order-in Revision No.279/2016 (DG(V) Val. Rev/857/2016), dated 26-12-2016, with remarks that reconsideration of customs values after providing opportunity of presentation to stakeholders.
Therefore, this Directorate General re-initiated exercise for determination of customs values of the subject goods. Stakeholders’ participation in determination of Customs values:
Meeting with stakeholders was held on 31-01-2017e The stakeholders were requested to furnish Invoices of imports during last three 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.
During the meeting most stakeholders argued that values determined vide Valuation Ruling No.887/2016, dated 27-07-2016, required downward revision. They agitated that the zippers were used mostly in export related items. Valuation methods given in Section 25 of the Customs Act, 1969 were followed to arrive at customs value of zippers (low end brands) in cut to size and Rolls. Transaction value method provided in Section 25 (1) was found inapplicable owing to wide variation in the values being declared to the customs and incomplete descriptions. Identical/ similar goods value methods provided in Section 25 (5) & (6) were applicability to the valuation issue in the instant case which provided some 4,efereri- values of the subject goods but the same could not be exclusively relied on due to wide
