AGL 42.34 Increased By ▲ 3.80 (9.86%)
AIRLINK 128.52 Decreased By ▼ -0.98 (-0.76%)
BOP 6.20 Increased By ▲ 0.59 (10.52%)
CNERGY 4.06 Increased By ▲ 0.20 (5.18%)
DCL 8.50 Decreased By ▼ -0.23 (-2.63%)
DFML 40.77 Decreased By ▼ -0.99 (-2.37%)
DGKC 87.75 Decreased By ▼ -0.55 (-0.62%)
FCCL 34.24 Decreased By ▼ -0.76 (-2.17%)
FFBL 66.49 Decreased By ▼ -0.86 (-1.28%)
FFL 10.55 Decreased By ▼ -0.06 (-0.57%)
HUBC 108.66 Decreased By ▼ -0.10 (-0.09%)
HUMNL 14.60 Decreased By ▼ -0.06 (-0.41%)
KEL 4.70 Decreased By ▼ -0.05 (-1.05%)
KOSM 7.28 Increased By ▲ 0.33 (4.75%)
MLCF 42.53 Increased By ▲ 0.88 (2.11%)
NBP 61.50 Increased By ▲ 1.90 (3.19%)
OGDC 180.00 Decreased By ▼ -3.00 (-1.64%)
PAEL 25.85 Decreased By ▼ -0.40 (-1.52%)
PIBTL 6.06 Increased By ▲ 0.09 (1.51%)
PPL 146.01 Decreased By ▼ -0.69 (-0.47%)
PRL 24.09 Increased By ▲ 0.48 (2.03%)
PTC 16.50 Decreased By ▼ -0.06 (-0.36%)
SEARL 70.40 Increased By ▲ 2.10 (3.07%)
TELE 7.29 Increased By ▲ 0.06 (0.83%)
TOMCL 36.10 Increased By ▲ 0.15 (0.42%)
TPLP 7.89 Increased By ▲ 0.04 (0.51%)
TREET 15.45 Increased By ▲ 1.25 (8.8%)
TRG 50.61 Increased By ▲ 0.16 (0.32%)
UNITY 26.92 Increased By ▲ 0.17 (0.64%)
WTL 1.24 Increased By ▲ 0.03 (2.48%)
BR100 9,821 Increased By 15.6 (0.16%)
BR30 29,700 Increased By 22.1 (0.07%)
KSE100 92,337 Increased By 32.7 (0.04%)
KSE30 28,786 Decreased By -54.2 (-0.19%)

The Directorate General of Valuation and Post-Clearance Audit (PCA), Karachi, has provided valuation data to the Central Board of Revenue (CBR) for determination of customs duty on import of goods in commercial quantity, violating baggage rules.
Sources told this scribe on Sunday that the CBR has issued instructions for assessment of goods brought in commercial quantity by overseas Pakistanis under personal baggage as well as Transfer of Residence (TR) schemes.
The DG Valuation and PCA has compiled the valuation data pertaining to baggage-related items, on the request of CBR Law and Procedure Wing. In many cases, persons coming under TR scheme did not specify the value of old (used) goods brought in large quantity.
The data would help in ascertaining the actual value of any new or old goods for valuation purposes. The value of each item would help in determining its exact price for calculation of customs duty.
Secondly, the data would also help the Collectorates of Adjudication for assessment of customs duty and fine on goods brought in commercial quantity.
When asked whether there is a need of PCA valuation data for baggage rules in the presence of SRO 682 (I)/2006, sources said that the Board has exempted from duties and taxes certain percentage of passenger's baggage, whether accompanied or unaccompanied, as specified in the notification. However, SRO 682 (I)/2006 did not specify value of each and every dutiable item brought in commercial quantity.
According to SRO 682(I)/2006, exemption shall not be admissible in case of goods brought in commercial quantity, whether accompanied or unaccompanied baggage.
In this connection, the DG Valuation has dispatched comprehensive data on the cost and freight value, HS Code of items and indicative value of the goods brought under personal baggage and TR scheme to the Board.
The data would be used by customs officials at the airports to charge duty based on the origin, make, model and specification of the item brought in commercial quantity.
Sources said that CBR has directed the regional collectors to follow the 100-page compendium in this regard.
The Board has already issued lists of duty-free allowances admissible for clearance of goods under the 'Green Channel' facility and dutiable items covered under the 'Red Channel' at all international airports.

Copyright Business Recorder, 2006

Comments

Comments are closed.