KARACHI: Stamco Steel Corporation and Shamim Tin Merchant have filed a petition seeking consignments of iron/ steel and tin products seized by customs officials due to alleged disputed valuation.
On 26 December 2019, counsel for the petitioner stated that they are engaged in the business of iron/ steel/ tin products, importing inter alia, galvanized steel coils and pre-painted steel coils of varying qualities and is a complaint tax payer who regularly contributes significant amounts to the government exchequer, they import goods from numerous countries through negotiated contracts and participant in open tenders.
Counsel argued that several consignments are lying at port and are being withheld from clearance by the customs authorities repeating their illegal practices in violation of the customs tribunal’s order, respondents have rejected the transactional values of their consignments without giving any cogent reasons and have assessed exercising the illegal formula based on values taken from the London Metal Exchange.
He informed the court that this unlawful conduct of the customs department has already been challenged by several other similarly placed persons and this court has been pleased to restrain the customs officials from carrying out their mala-fide and illegal acts.
He says that there are also several consignments of the petitioners for which letter of credit have been opened and shall be arriving at the ports in Pakistan shortly, it is apprehended that such consignments shall also be assessed by the customs officials at an artificial, arbitrary value far higher than their transactional values in total disregard of the fact there is no valuation ruling in the field and the mandatory provisions of section 25 of the customs act are not being adhered to, petitioners being aggrieved of this action of the respondents and having exhausted all other possible remedies in relation to the same matter has no other adequate remedy has preferred the instant petition of the following grounds.
Citing secretary Revenue Division, chief collector of Customs Appraisement West and DG Valuation ruling as respondents, petitioners pleaded the court to declare that release their consignments immediately and restrain them from taking any coercive action against them.
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