KARACHI: The Directorate General of Customs Valuation issued a valuation ruling for assessment of duty on the import of CCTV cameras and mini cameras from China and Hong Kong to curb the massive under-invoicing. According to details, imported CCTV cameras and mini cameras from China and Hong Kong will now be assessed at the new customs value of $6-30 per piece, depending upon the specification of item.
It is to be noted that the step has been taken to discourage the trend of import of these items at under-invoiced value that had caused huge losses to the exchequer.
As per ruling, valuation methods given in Section 25 of the Customs Act, 1969 were followed. Transaction value method provided in Sub-Section (1) of Section 25 was found inapplicable because sufficient information required under the law was not available. Identical/similar goods value methods provided in Sub-Sections (5) & (6) of Section 25 ibid were also not found applicable to determine the Custom values due to unreliable and variable values. Consequently, findings of market enquiry as envisaged under Sub-Section (7) of Section 25of the Customs Act, 1969, read with Sub-Section (9) of Section 25 ibid were adopted to determine Customs values for CCTV cameras in this case.
In cases where declared/transaction values are higher than the Customs value determined in this ruling, the assessing officers shall apply those values in terms of Sub-Section (1) of Section 25 of the Customs Act, 1969. In case of consignments imported by air, the assessing officer shall take into account the difference between air freight and sea freight while applying the Customs values determined in the ruling.
