AGL 38.16 Decreased By ▼ -0.06 (-0.16%)
AIRLINK 134.19 Increased By ▲ 5.22 (4.05%)
BOP 8.85 Increased By ▲ 1.00 (12.74%)
CNERGY 4.69 Increased By ▲ 0.03 (0.64%)
DCL 8.67 Increased By ▲ 0.35 (4.21%)
DFML 39.78 Increased By ▲ 0.84 (2.16%)
DGKC 85.15 Increased By ▲ 3.21 (3.92%)
FCCL 34.90 Increased By ▲ 1.48 (4.43%)
FFBL 75.60 Decreased By ▼ -0.11 (-0.15%)
FFL 12.74 Decreased By ▼ -0.08 (-0.62%)
HUBC 109.45 Decreased By ▼ -0.91 (-0.82%)
HUMNL 14.10 Increased By ▲ 0.09 (0.64%)
KEL 5.40 Increased By ▲ 0.25 (4.85%)
KOSM 7.75 Increased By ▲ 0.08 (1.04%)
MLCF 41.37 Increased By ▲ 1.57 (3.94%)
NBP 69.70 Decreased By ▼ -2.62 (-3.62%)
OGDC 193.62 Increased By ▲ 5.33 (2.83%)
PAEL 26.21 Increased By ▲ 0.58 (2.26%)
PIBTL 7.42 Increased By ▲ 0.05 (0.68%)
PPL 163.85 Increased By ▲ 11.18 (7.32%)
PRL 26.36 Increased By ▲ 0.97 (3.82%)
PTC 19.47 Increased By ▲ 1.77 (10%)
SEARL 84.40 Increased By ▲ 1.98 (2.4%)
TELE 7.99 Increased By ▲ 0.40 (5.27%)
TOMCL 34.05 Increased By ▲ 1.48 (4.54%)
TPLP 8.72 Increased By ▲ 0.30 (3.56%)
TREET 17.18 Increased By ▲ 0.40 (2.38%)
TRG 61.00 Increased By ▲ 4.96 (8.85%)
UNITY 28.96 Increased By ▲ 0.18 (0.63%)
WTL 1.37 Increased By ▲ 0.02 (1.48%)
BR100 10,786 Increased By 127.6 (1.2%)
BR30 32,266 Increased By 934.6 (2.98%)
KSE100 100,083 Increased By 813.5 (0.82%)
KSE30 31,193 Increased By 160.9 (0.52%)

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.