Directorate General Customs Valuation (DGCV) has revised the customs values of Gasoline Water Pump (GWP) under section 25(9) of the Customs Act, 1969. According to details, the Directorate notified Valuation Database (VDB) values of GWP (Low end brands) in December last year besides initiating an exercise for determination of customs values of the said goods under section 25A of the act.
For the purpose, importers were requested to furnish the relevant documents before or during the course of meeting, which was convened on March 1, 2017. However, no documents were submitted but the Lahore Chamber of Commerce & Industry submitted a written request that the customs value of said product shall not be fixed higher than US$ 2 per kilogram.
The chamber objected that values notified vide VDB letter No 139 was far higher and following the said reason, there was danger of shifting legal import to the smuggling channel.
The importers, who attended meeting, were again asked to submit documentary evidence in support of their contention, directly or through chamber of commerce if they liked. They were also told that the gasoline water pumps were being imported vis-a-vis their capacity in HP so the values would be determined accordingly. It was agreed that the same factor shall be looked into while determining customs values. Despite a considerable lapse of time, the importers have not submitted the requisite documents except some import invoices/ and copies of GDs.
Therefore, numerous market surveys were conducted for determination of the customs values. Consequently, the customs values of GWP (Low end brands) have been determined under section 25(9) of the Customs Act, 1969 and the Gasoline Water Pump of different origins shall now be assessed between US$ 45 per kilogram to US$ 84 per kilogram.
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