KARACHI: Director General Customs Valuation Surriya Butt has rejected a revision petition filed against Valuation Ruling No.1217/2017 and upheld the values of Whey Powder determined vide the said valuation ruling.
Source told that M/s Naseem Traders, S J K & Sons and others approached Director General Customs Valuation asking that the Valuation Ruling No.1217/2017 does not cover the present fluctuation of prices or international market which have been reduced to about half of the prices.
Director General noted importers had failed to prove with conclusive evidence that the values worked out in the impugned ruling were on higher side. On the other hand, the department presented details of valuation exercise conducted to determine the values of Whey Powder.
Perusal of case record and the defense of the department reveal that the Directorate of Customs Valuation while issuing the impugned valuation ruling associated the importers including the petitioners.
Further, the values of subject goods have already been rationalized by the department while revising the previous Valuation Ruling and notifying the impugned ruling.
