Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result
Home Karachi

SHC seeks remarks on petition filed against enhancement of valuation

byM.B. Rana
31/07/2019
in Karachi, Latest News
Share on FacebookShare on Twitter

KARACHI: The Sindh High Court (SHC) issued notices to customs department and deputy attorney general on a constitutional petition filed by M/s Gulf Enterprises, M/s Muhammad Salman, M/s Ashraf Impex and M/s Prime Chem against determination of valuation on consignments of polyester filament yarn at $1.42 per kg as against declared value at $1/20 per under Valuation Ruling No 1362/2019.

During the hearing of petition a two-member bench also directed them to file their para wise comments on next date of hearing.

You might also like

IMF approves $1.2bn loan tranche for Pakistan

08/05/2026

ICCI hails Court verdict against ‘deemed Income’ tax on properties

08/05/2026

The counsel for the petitioner stated in his petition that petitioners have imported consignments comprising of polyester filament yarn and on unit value of $1.20 per kg and filed goods declaration according with law and requested the appropriate officer working under customs officials to accept the declared value under section 25(1) of the Customs Act, 1969.

He further submitted that however, officials of customs without confronting the declared transaction value has denied to accept the same and proposed to assess duties and taxes on the basis of impugned Valuation Ruling No 1362/2019 dated 25/04/2019 wherein the unit value of the impugned goods are determined at $1.42 per kg as against declared value at $1/20 per kg which is much higher than the prices actually prevailing internationally.

Counsel argued that petitioners filed an appeal before the director general valuation which is pending for disposal, however, customs officials are refusing request of the petitioners for release their consignments on bank guarantees.

Citing chairman Federal Board of Revenue, collector Appraisement East, DG Valuation, Collector of Customs Appraisement West as respondents, petitioners pleaded the court to direct the respondents to allow provisional release in the present and future consignments shipped and/ or to be shipped and restrain them from taking any coercive action against the petitioners till final order in this petitions.

Related Stories

IMF approves $1.2bn loan tranche for Pakistan

byCT Report
08/05/2026

ISLAMABAD: The International Monetary Fund has approved a $1.2 billion loan tranche for Pakistan, providing a significant boost to the...

ICCI hails Court verdict against ‘deemed Income’ tax on properties

byCT Report
08/05/2026

ISLAMABAD: President  Islamabad Chamber of Commerce and Industry Sardar Tahir Mehmood has welcomed the landmark decision declaring Section 7-E of...

Pakistan likely to receive $1.2b IMF tranche as board meets today

byCT Report
08/05/2026

ISLAMABAD: Pakistan is expected to receive a $1.2 billion tranche from the International Monetary Fund (IMF) soon, as the Fund’s...

Pakistan rejects LNG spot bids hoping for cheaper Qatari supplies

byCT Report
08/05/2026

LAHORE: Pakistan has decided not to approve the lowest bids submitted for two spot LNG cargoes despite receiving competitive offers...

Next Post

Collector Mubashar Baig's Faisalabad Customs recovers Rs 449m from M/s Maple Leaf Cement Factory

  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.