KARACHI: The Directorate General of Customs Valuation has re-determined the customs value of DVD players/recorders vide Valuation Ruling No 954/2016 under Section 25-A of the Customs Act, 1969.
Earlier, the value of the said items was determined vide Valuation Ruling No 363/2011 dated August 6, 2011.
As per details, the valuation ruling required revision in line with the prevailing prices in the international market. Therefore, the directorate initiated an exercise to re-determine the value of bearings. Meetings with stakeholder were scheduled on July 28, 2016 and August 12, 2016 to revise the value.
Importers had been requested to furnish the following documents before or during the course of 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.
No documents were submitted in this Directorate General on or even after the said scheduled meeting and no one appeared for the meeting.
The value determined vide this ruling shall be the applicable customs value for assessment of subject imported goods until and unless it is revised by the competent authority in terms of Sub-Section (1) or (3) of Section 25-A of the Customs Act, 1969.
The customs values for DVD players/recorders hereinafter specified shall be assessed to duty/taxes at the following;
