KARACHI: The Prime Steel House has challenged the rate of $328 per metric ton on imported “hot rolled steel round bars” in the Sindh High Court (SHC).
The importer’s counsel stated that petitioner ranked among the top steel traders in the country and imported a consignment totaling 336.206 metric tons of “prime newly produced hot rolled steel round bars” from China vide Cumic Steel Limited Hong Kong bearing HS Code 7228.3090, which is confirmed in the certificate of origin and at the rate of $328/-per metric ton.
According to the petitioner, importer is seriously aggrieved by the action of Customs Collectorate-East, as it has allegedly enhanced the rate of their imported item up to $412.9 per metric ton from $328 per metric ton. “Such action is done without assigning any reason and without consulting any of the stakeholders as well as the petitioner,” the petitioner added.
The importer submitted that only if it is proven that the transnational value of the petitioner is incorrect or through violation ruling can be value of any item be determined for custom clearing purpose. But there is neither valuation ruling on the imports of the petitioner nor the petitioner confronted that their transnational value is incorrect.
Citing secretary revenue division , chairman FBR and Customs Collectorate – East, as respondents, the petitioner prayed to the SHC to set aside the a impugned order.
