Import from China, South Korea and Vietnam: new customs values for PE Tarpaulin issued

Directorate General of Customs Valuation Karachi has issued new customs values for import of "PE Tarpaulin" specifically from China, South Korea and Vietnam to accurately assess the duty. Sources told Business Recorder here on Wednesday that the directorate has issued a valuation ruling for determination of customs values of "PE Tarpaulin" under section 25-A of the Customs Act, 1969.
The customs value of "PE Tarpaulin" would be $2.50 per kg on import from China, $2.65 per kg on import from Korea and customs value of "PE Tarpaulin" would be $2.50 per kg on import from Vietnam. In exercise of the powers conferred under Section 25-A of the Customs Act, 1969, the Customs values of "PE Tarpaulin" are determined. The new ruling supersedes Valuation Ruling No 474, dated 28-09-2012, sources said.
The Customs value of Tarpaulin was being determined under Section 25-A of Valuation Ruling No 474 dated 28-09-2012. It was contested by a number of importers who filed review applications under Section 25-D which were disallowed for technical reasons and on legal ground. The Director General, however, directed to examine their contentions on merit as per law and associate them during exercise for determining revised Customs value. Accordingly the, importers were associated during the aforesaid exercise but they failed to submit valid and legally maintainable import documents to substantiate their viewpoint. A complaint by local manufacturers was also received by the Directorate General of Customs Valuation to the effect that the subject goods were being under-invoiced by the importers, causing revenue losses. This prompted an investigation to determine Customs Value of imported "PE Tarpaulin".
To determine the Customs value, 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 was not available. Identical/similar goods value methods provided in sub-section (5) and (6) of section 25 ibid were also not found applicable for determination of the customs values due to unreliable and variable values. Deductive value method could not be followed. Computed value method provided in section 25(8) was not applicable; therefore Customs value of 'PE Tarpaulin' was determined under sub-section (9) of section 25 in the instant case, sources said.
The meetings were held with the stakeholders on 24-06-2013, 22-07-2013 and 24-09-2013. In case 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 differential between air freight and sea freight while applying the Customs values determined in the Ruling.
The value determined vide the Ruling shall be the applicable Customs value for assessment of subject imported goods until and unless it is rescinded or revised by the competent authority in terms of sub-section (1) or (3) of section 25 of the Customs Act, 1969, the ruling maintained.
A revision petition may be filed against this Ruling, as provided under Section 25-D of the Customs Act, 1969 within 30 days from the date of issue before the Director General, Directorate General of Customs Valuation, 7th Floor, Customs House, Karachi. The Collectors of Customs may kindly ensure that the value given in the Ruling is applied by the staff concerned without fail, sources added.