KARACHI: Director General Customs Valuation Wasif Ali Memon has re-determined the customs value of woven/knitted furnishing, sofa and curtain fabric and coated fabric (flocking/sued) under section 25-A of the Customs Act 1969, issues Valuation Ruling No 881/2016.
According to the details, consequent upon representation by the commercial importers, regarding revision of the Valuation Ruling No 765/2015, dated 09-10-2015 an exercise was undertaken to re-determine the customs values of the woven/knitted furnishing, sofa and curtain fabric and coated fabric (flocking/sued) under section 25-A of the Custom Act.
Meetings were held on 10-03-2016 and sated 11-04-2016 with all the shareholders of subject goods and representatives of the clearance collectorate who participated in the meeting.
Whereas the valuation methods provided in the Section 25 of the Customs Act, 1969 were duly followed and applied sequentially to address the valuation issued at hand. Transaction value method provided in sub-section (1) of the 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 along with other available methods.
Finally, PRAL, database, market information and international prices though web were examined thoroughly. All the information so gathered was analyzed for determination of customs values of the subject good. Consequently, the Fall Back Method as provided under section 25(9) of the Customs Act, 1969 was applied to arrive assess able customs values of woven/knitted furnishing, sofa & curtain fabric and coated fabric (flocking/sued) provided in the picture.
The valuation determined vide this ruling shall be the applicable customs values for assessment of subject imported goods until and unless it is rescinded or revised by the competent authority in terms of Sub section (1) or (3) of Section 25-A or section 25-D of the Customs Act. 1969.
