Directorate General of Customs Valuation Karachi has revised customs value of electric bulbs and tube lights for making latest assessment of customs duty under section 25-A of Customs Act, 1969. Sources told Business Recorder here on Sunday that the customs value of electric bulbs and tube lights is determined under section 25-A of Customs Act, 1969.
While sharing the background of the valuation issue, sources said that the customs value of Electric Bulbs and Tube Lights was previously determined vide Valuation Ruling No.279 dated November 30, 2010. Since the said Ruling became obsolete, an exercise was initiated to revise the values as per the existing valuation trends of the said products.
The valuation methods given in section 25 of the Customs Act, 1969, were examined thoroughly to ascertain which method is applicable to the valuation issue at hand in terms of Section 25A(1) of the Act. Transactional Value method provided in Section 25(1) was found inapplicable because sufficient information with respect to adjustments to be made to the transactional value in terms of section 25 (2) was not available.
The identical/similar goods value methods provided in section 25(5) and (6) were examined for applicability to the valuation issue in the instant case. These methods furnished unreliable and variable values and were not deemed fit for application. Since the manufacturers cost of producing the goods in question in the country of exportation were not available, Computed Value Method as provided in section 25(8) could not be applied for valuation of the aforesaid goods. Therefore, deductive method as envisaged under section 25(7) of the Customs Act, 1969 was applied to arrive at customs values of Electric Bulbs & Tube Lights.
Referring to the evidence used to determine customs values, sources said that the results of market inquiry conducted by the Directorate General under deductive valuation method were shared and discussed with the stakeholders to arrive at customs values of Bulbs & Tube Lights.
Customs values for Electric Bulbs & Tube Lights - Electric Bulbs & Tube Lights (other than Philips brand) hereinafter specified shall be assessed to duty/taxes on the following customs values in US dollars per piece: Electric Bulb 1-15 W, Customs Values would be US $/piece 0.074; Electric Bulb 16-40 W Customs Values US $/pc 0.093; Electric Bulb 41-100 W Customs Values US $/pc 0.10; Electric Bulb 101-200 W Customs Values US $/pc 0.16; Electric Bulb 201-500 W Customs Values US $/pc 0.46; Tube Light 1-6 W Customs Values US $/pc 0.10; Tube Light 7-10 W Customs Values US $/pc 0.12; Tube Light 11-20 W Customs Values US $/pc 0.24; Tube Light 21-40 W Customs Values US $/pc 0.30; Tube Light 18 W (colored) Customs Values US $/pc 0.35 and Tube Light 36 W (colored) Customs Values US $/piece would be 0.47.
Customs values for Electric Bulbs & Tube Lights - Electric Bulbs & Tube Lights of Philips brand shall be assessed to duty/taxes on the following customs values in US dollars for per piece: Electric Bulb 60 W Customs Values US $0.107 per piece; Electric Bulb 100 W Customs Values US $/pc 0.11; Electric Light 18 W Customs Values US $/pc 0.363; Electric Light 36W Customs Values US $/pc 0.456; Electric Light 40 W Customs Values US $/pc 0.467; Electric Light 18 W (colored) Customs Values US $/pc 0.494 and Electric Light 36W (colored), Customs Values would be US $0.668 per piece.
Sources said that the customs values determined in the Ruling shall remain applicable for the aforementioned goods till the time Valuation Ruling is rescinded or revised by the competent authority in terms of Section 25A of the Customs Act, 1969. Moreover, the Valuation Ruling applies to cases where declared values are less than the customs values determined in the ruling. In cases where declared values are more than the customs value determined in the ruling, the concerned assessing officers shall apply such higher values in terms of section 25(1) of the Customs Act, 1969. Moreover, in case of consignments imported by air, if the differential between air freight and sea freight, when taken into account, raises the customs values above those determined in the ruling, the concerned assessing officers shall apply such higher values in terms of section 25(1) of the Customs Act, 1969.
The Customs Act, 1969 provides efficacious alternate remedies against the Ruling. Section 25-D provides that any person aggrieved of the Ruling may file a revision petition within 30 days from the date of the Ruling before the Director General, Directorate General of Customs Valuation.
An appeal against the decision in revision of the Director General can be filed within 60 days of the decision before the Customs Appellant Tribunal under section 194-A (1) (e) of the Customs Act, 1969, sources added.
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