KARACHI: The Directorate General of Customs Valuation has revised the customs values PVC coated fabric vide Valuation Ruling No 919/2016. The new valuation ruling has superseded earlier Valuation Ruling No 662/20154.
According to Dr Memon, the new valuation ruling was issued because the previous one was issued two years ago while the custom valuation directorate is responsible to review the values after expiry of 90 days.
Under the new valuation ruling, the PVC coated fabric would be classified under PCT heading 5903.1000 for the commodity originating from China, Taiwan, Korea, Japan, UK and USA ranging between $1.80 to 2.20.
Meanwhile, the Directorate General, Customs Valuation has also revised the customs values of Barley and Oats vide Valuation Ruling No 918/2016.
According to details, the Directorate General took all the stakeholders on board and applied the sequential method besides market survey and international prices.
According to the valuation ruling, barley to be imported from Australia, Moldova, Ukraine and USA will be accessed to duties and taxes $ 0.20/per kilogram while $0.22/kg from other sources.
Moreover, Oats will be accessed at $ 0.20/kg to be imported from Ukraine and Latvia and at $ 0.22/kg from other sources.
