KARACHI: The Directorate General, Customs Valuation, Director General Surriya Ahmed Butt has decided to revise the Valuation Ruling No: 941/2016 on June, 6, 2018, it is learnt.
Sources told Customs Today that Surriya Butt was reviewing suggestions from various importers to set new prices of olive oil (HS Code 1509.9000) . She said some valuations which were issued in 2016 were being reviewed from the beginning.
Moreover, the valuations will be set in view of the rising prices in the international market. Sources said that a petition was filed with the Customs Valuation in which change in prices of olive oil (HS Code 1509.9000) was requested.
Sources further told that Valuation Ruling No: 941/2016 was issued on 30th September, 2016. A meeting was held with the stakeholders on April 20, 2018.
Importers were advised to furnish the import invoices of the last three months showing factual values as well as websites, names and e-mail addresses of known foreign manufacturers of the items in question through which the actual current value could be ascertained.
