KARACHI: The Directorate General of Customs Valuation has issued the reference values for safety pin made of iron and steel.
The directorate general has initiated an exercise to develop database values for different items wherein it has been observed that declarations are wide range and do not correctly reflect values of the items as traded in the international market.
During the scrutiny of previous clearance data, it has been observed that safety pin made of iron and steel falling under PCT Headings 7319.4000 are being assessed at different values and certain transactions are, on very low side.
The directorate general, after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market surveys. This office, therefore, has found the customs values of safety pin made of iron and steel of China origin fixed at $2.20 per kilogramme.
These values are, however, for reference/guidance only and final assessment may please be made after considering other factors which have bearing on the customs value.
The clearance collectorates may like to consider the values given above before finalizing the assessment of the subject items. If further fine-tuning in specifications and ensuing values are required, collectorate may forward a reference along with detailed justifications • worksheets so that requisite adjustments are accordingly issued.
