KARACHI: Directorate General of Customs Valuation, Karachi has rationalized customs values on the import of a wide range of stationery items to bring them at par with actual prevailing values.
In this regard, the directorate issued a valuation ruling (1866 of 2024) on Monday. According to sources, the values has been revised in line with the international prices. However, the industry is of the view that the now the values are appropriate taking into account international prices.
Earlier, the Customs values of Stationery items were determined under Section 25A of the Customs 1969, vide Valuation Ruling 1804/2023. This Valuation Ruling was challenged under Section 25D before directorate.
Therefore, an exercise was initiated by the Directorate of Customs Valuation, Karachi to re-determine the Customs values of the subject goods in terms of Section 25A of the Act, 1969. Stakeholders’ participation in determination of Meeting was convened which was attended by all the relevant stakeholders. The issues pertaining to the valuation of subject goods were deliberated upon in detail in the afore-referred meeting.
The stakeholders submitted their proposals and the same were considered pertaining to the valuation of subject goods.
Ninety days’ clearance data was retrieved and the same was scrutinized. The analysis revealed that the declared values of black lead pencil in bulk packing of China origin ranged from $0.019 per piece to $0.028 per piece. Similarly declared values of black lead pencil in retail packing from same origin ranged from $0.020 per piece to $0.032 per piece.
