KARACHI: The Directorate General of Customs Valuation has determined the Customs values of knob and handle door lock, door handle thumbs action lock (entrance lock) and night latch/rim lock vide Valuation Ruling No. 697/2014 No. Misc/01/2012-VI dated October 2, 2014.
The customs values of knob and handle door lock/door handle thumbs action lock entrance lock) were determined under Section 25A of the Customs Act 1969 vide Valuation Ruling 499/2012 dated November 30, 2012.
The directorate initiated the exercise to re-determine the values of the items and also that of night latch/rim lock to reflect the current prices in the international markets.
The valuation methods provided in Section 25 of the Customs Act 1969 were followed. The transaction value method provided in Section 25(1) was found inapplicable because the requisite information under the law was not available. Identical/similar goods valuation methods provided in Sub-Section (5) and (6) of Section 25 of the Act were examined but were found inapplicable due to variable and unreliable values. Market enquiry provided under Sub-Section (7) and as per findings of enquiry deductive value method as provided under Section 2597 read with Sub-section (9) of the Act was adopted to determine the customs values of the items under discussion.
Views of relevant stakeholders were sought and meetings with them were held on April 22, 2014, May 14, 2014, September 16, 2014 and September 25, 2014. September 11, 2014 and October 1, 2014.
Finally, the directorate determined the values of knob and handle door lock, door handle thumbs action lock (entrance lock).
According to details, China-origin iron or non-alloy knob and handle door lock (non-electric) having PCT Code 8301.3000 and 8301.4000 and Proposed PCT for WeBOC of 8301.3000.1000 and 8301.4000.1000 shall be assessed for duty/taxes at customs values (C&F) at $1.40 per kg.
The customs value of China-origin iron or non-alloy door handle thumb action lock (entrance lock) (entrance lock) having PCT Code 8301.4000 and Proposed PCT for 8301.4000.1100 is fixed at $3.25 per kg.
Similarly, the customs value of China-origin iron or non-alloy night latch/rim lock (non-electric) having PCT Code 8301.4000 and Proposed PCT for 8301.4000.1200 is fixed at $1.30 per kg.
“In cases where the declared/transaction values are higher than the customs values determined in this Ruling, the assessing officers shall apply those values in terms of Sub-Section (1) of Section 25 of the Customs Act. And in cases of consignments imported by air, the assessing officer shall take into account the differential between air freight and sea freight while applying the Customs values determined in this Ruling. This Valuation Ruling supersedes Valuation Ruling No.499/2012 dated 30.11.2012.”
