ISLAMABAD: Taking advantage of peak winter season, the Directorate General of Customs Valuation Karachi has issued new customs values on the import of dry fruit; i.e., cashew nut/ Kaju from Vietnam and other countries, making it highly expensive for Pakistani citizens.
The new value of cashew nut/ Kaju from Vietnam has been fixed at US$4.5 per kg. In the case of other countries, the value of cashew nut/ Kaju from other regions has been fixed at US$4.7 per kg.
The directorate has revised the customs value on the import of cashew nut/ Kaju in the name of seasonal item.
Vietnam, other origins: Customs’ values on import of cashew nuts revised
In case of import of value-added cashew nuts like salted, roasted; etc., up to 15% loading on the above determined values is advised. The reduction of 7 percent shall be admissible on above determined values on account of freight charges, if goods are imported through land route and thereafter actual land freight charges incurred for respective land import station shall be added.
According to a ruling issued by the Federal Board of Revenue’s (FBR) directorate, the value of seasonal item was reviewed; therefore, in pursuance of analysis of import data, current market trends, the difference in market prices and customs values, an exercise for the determination of customs values of subject goods was initiated under Section25 and 25A of the Customs Act, 1969.
Similarly, the data of identical and similar goods as per sections 25(5) &. (6) ibid provided some references of demonstrable evidence of qualities and quantities of the same commercial level; however, it could not be solely relied upon.
Meanwhile, a market inquiry as envisaged under sub-Section (7) of Section 25 of the Customs Act, 1969 was also conducted wherein various markets were visited and the actual prices of subject goods were acquired. As a result, after adjusting the amounts of profits, the C&F value was determined under Section 25(7) read with Section 25(9) of the Customs Act, 1969 further read with customs rule l2l (2) of the Customs Rules, 2001, it added.
Copyright Business Recorder, 2025
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