KARACHI: Customs Valuation Director Wasif Ali Memon has revised the customs value of stationery items through Valuation Ruling No 961/2016 under Section 25-A of the Customs Act, 1969.
earlier determined through Valuation Ruling No.868/2016, dated 09-06-2016.Meanwhile, representations have been received from importers and the representative association of the importers with request that the Valuation Ruling is over 90 days old that it was issued without considering the prevailing prices in the international market. They have requested that the Valuation Ruling may be revised in the light of prevailing prices in the international market. Therefore, this Directorate General initiated an exercise for determination of customs values of Stationery Items. 3. Stakeholders’ participation in determination of Customs values: Meeting with stakeholders was held on 27-09-2016. The Association and importers were also requested to furnish the following documents before or during the stakeholders meeting,
- Invoices of imports during last three months showing factual value.
- Websites, names and E-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained.
- Copies of Contracts made / LCs opened during the last three months showing the value of item in question
- Copies of Sales Tax Invoices issued during last four months showing the difference in price (excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers.
- A number of stakeholders attended the meeting. The local manufactures, Pakistan Stationers Association, Karachi and representative of different importers participated. The local manufactures stated that generally the values correctly reflect the international prices of the tationary items but also expressed that certain items have been determined on higher side. On other hand, importers agitated that the current determined values are much higher than the 1 international prices and asserted that values determined on the basis of feedback from the manufacturers would not reflect true picture and stated that costs of raw materials and ersion costs in Pakistan are much higher than the other countries, especially China and quested to provide level playing field. They also requested that while conducting market
