KARACHI: The Directorate General of Customs Valuation has revised the customs value of children toys through Valuation Ruling No 991/2016 under Section 25A of the Customs Act, 1969.
Customs values of Children Toys were earlier determined vide Valuation Ruling 871/2016 dated 20-06-2016. Review Petitions were filed under section 25D of the Customs Act, 1969, before the Director General od Customs Valuation, Karachi by M/s N,T Computers and others, which were disposed of vide Order.in. Revision No.236/2016 DG(V).EV./839/2016/9300, dated 18-08-2016.
The Director General had order to conduct fresh inquiries and to the issue Valuation Ruling for Toys and Games separately, Therefore, this Directorate General initiated an exercise for determination of customs value of toys and games
However the requisite documents were not submitted by the stakeholders. Fresh inquiries including online verifications, were conducted in light of order of the Director General Customs Valuation.
Valuation methods given in Section 25of the Customs Act, 1969 were followed to arrive at Customs value of children toys. 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 and Milar Goods valuation methods provided in Sub-Sections (5) and (6) of Section 25 of the toms Act, 1969, provided some reference values but could not be relied upon due to wide Variation in the items and different prices were being declared for similar and identical items. Therefore, customs values could not be determined under section 25(5) & (6) ibid. In view of the going position, it was decided to conduct local market survey in terms of Sub-Section (7) of Section 25 of the Customs Act, 1969 and customs values were determined accordingly.