KARACHI: The Directorate General of Customs Valuation has revised the customs value of hot melt adhesive glue stick/granules/chips and pellets through Valuation Ruling No 1027/2017 under Section 25A of the Customs Act, 1969.
According to details, the customs values of hot melt adhesive glue stick/granules/chips and pellets were earlier determined vide Valuation Ruling No 739/2015 dated, 2-06-2015.
Representations were received from commercial importers for determination of customs value of hot melt adhesive glue stick/granules/chips and pellets afresh.
Hence, existing valuation ruling which is over one and half years old is required to be revised in the light of Sindh High Court orders dated 10.11.2015 in constitutional petition No. D- 6918/2015. Since 90 days have passed and representations were received from commercial importers regarding values determined in above mentioned valuation ruling, an exercise was initiated to re-determine the values of hot melt adhesive glue stick/granules/chips and pellets in the light of international price trend. in terms of Section 25-A of the Customs Act, 1969..
Meeting with all the stakeholders including importers, local manufacturers and representatives from clearance Collectorates, was held on 12-01-2017 to discuss the current international prices of the subject item. The commercial importers stated that the prices of subject items are showy in2 down ward trend in the international markets. The view point of all participants was heard in detail and considered to arrive at Customs value of for hot melt adhesive glue stick/granules/chips and pellets.
Transaction value method provided in Sub-Section (I) of Section 25 was found inapplicable because it is generally known to all that majority of invoices produced at import stage are manipulated/fabricated and hence the requisite information required under the law was not available to arrive at the correct transaction value. Identical / similar goods value method provided in Sub-Sections (5) & (6).
