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ISLAMABAD: Directorate General of Customs Valuation Karachi has revised customs values on the import of Safety Pin, Paper Pins & Scarf Pin (End Brands) from China. In this regard, the directorate issued valuation ruling number 1983 of 2025 on Saturday.

Background of the issue revealed that the customs values of the Safety Pin, Paper Pin & Scarf Pin (Low End Brands) were determined vide Valuation Ruling No. 1229/2017 dated 07.12.2017.

The Existing Valuation ruling is more than 07 years old therefore, an exercise has been initiated by this Directorate to re-determination of Customs values under Section 25A of the Customs Act, 1969.

Import of sunflower seeds from USA/Europe: DG Customs Valuation Karachi issues new values

The ruling revealed that meeting notices to all stakeholders were issued but no one appeared. The Directorate initiated an exercise to determine the customs value of subject items, according to the international and local markets to maintain uniformity.

Valuation methods, provided in Section 25 of the Customs Act, 1969, were applied in sequential order.

The transaction value method as provided in subsection (l) of Section 25 of the Customs Act, 1969, was found inapplicable as declared values do not correspond to market prices.

The values of identical and similar goods as per sections 25 (5) & (6) ibid could not be solely relied upon due to the absence of absolute demonstrable evidence of qualities and quantities of commercial level etc. A market enquiry as envisaged under Sub-Section (7) of Section 25 of the Customs Act, 1969 was conducted as per the procedure of Office Order No17/2014. Various wholesale and retail markets were visited and the actual prices of subject goods were acquired by adjusting the amounts of profits.

Finally, clearance data of similar/identical goods, market information from surveys, online information as well as values from internationally as provided under section 25 ibid so gathered have been utilized and analyzed for determination of customs values of the subject goods under Section 25(7) of the Customs Act, 1969, the ruling added.

Copyright Business Recorder, 2025

Comments

200 characters
Saleem Munshi Mar 24, 2025 02:14pm
What a shame an atomic power has to import paper and safety pins.
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