AIRLINK 193.56 Decreased By ▼ -1.27 (-0.65%)
BOP 9.95 Increased By ▲ 0.14 (1.43%)
CNERGY 7.93 Increased By ▲ 0.57 (7.74%)
FCCL 40.65 Increased By ▲ 2.07 (5.37%)
FFL 16.86 Increased By ▲ 0.41 (2.49%)
FLYNG 27.75 Increased By ▲ 0.21 (0.76%)
HUBC 132.58 Increased By ▲ 0.83 (0.63%)
HUMNL 13.89 Increased By ▲ 0.03 (0.22%)
KEL 4.60 Decreased By ▼ -0.06 (-1.29%)
KOSM 6.62 Decreased By ▼ -0.04 (-0.6%)
MLCF 47.60 Increased By ▲ 2.21 (4.87%)
OGDC 213.91 Decreased By ▼ -0.08 (-0.04%)
PACE 6.93 Increased By ▲ 0.07 (1.02%)
PAEL 41.24 Increased By ▲ 1.18 (2.95%)
PIAHCLA 17.15 Increased By ▲ 0.36 (2.14%)
PIBTL 8.41 Increased By ▲ 0.09 (1.08%)
POWER 9.64 Increased By ▲ 0.21 (2.23%)
PPL 182.35 Increased By ▲ 0.16 (0.09%)
PRL 41.96 Increased By ▲ 0.13 (0.31%)
PTC 24.90 Increased By ▲ 0.34 (1.38%)
SEARL 106.84 Increased By ▲ 4.31 (4.2%)
SILK 0.99 Decreased By ▼ -0.01 (-1%)
SSGC 40.10 Increased By ▲ 0.66 (1.67%)
SYM 17.47 Increased By ▲ 0.14 (0.81%)
TELE 8.84 Increased By ▲ 0.08 (0.91%)
TPLP 12.75 No Change ▼ 0.00 (0%)
TRG 66.95 Increased By ▲ 1.55 (2.37%)
WAVESAPP 11.33 Increased By ▲ 0.22 (1.98%)
WTL 1.79 Increased By ▲ 0.09 (5.29%)
YOUW 4.07 Increased By ▲ 0.13 (3.3%)
BR100 12,045 Increased By 70.8 (0.59%)
BR30 36,580 Increased By 433.6 (1.2%)
KSE100 114,038 Increased By 594.4 (0.52%)
KSE30 35,794 Increased By 159 (0.45%)

The Directorate General of Customs Valuation (DGCV) has started revising valuation rulings older than 90 days under Sindh High Court (SHC) directives. The SHC in CP No D-6918/2015 ordered the DGCV that in cases where the valuation ruling is more than 90 days and an importer has approached Director Valuation in terms of Para 21 of the judgement, fresh consignments of such importers would be allowed provisional release in terms of section 81 of the Customs Act 1969 by securing the differential amount of duty and taxes in the shape of pay order/ bank guarantee as the case may be by the director valuation and or the concerned collector without fail.
The SHC said that in cases where a proper revision application has been filed by an importer in terms of section 25-D of the Customs Act 1969 before the Director General, valuation and pending such review/revision, fresh consignment is imported then at the request of the importer who has filed such revision, the consignment in question would be released in terms of section 81 of the customs Act 1969 after securing the differential amount of duty and taxes in the shape of pay order/ bank guarantee as the case may be by the director valuation and or the concerned collector without fail.
The SHC also warned that any wilful disobedience and defiance of these directions would entail initiation of contempt of court proceedings against such delinquent officers. Meanwhile, sources said that DGCV in response to the said decision had initiated revising valuation rulings older than 90 days. They said that DGCV in had sent a letter to all concerned Collectorates and advised to assess goods provisionally in terms of section 81 of the Act by securing the differential amount of duty and taxes between declared value and value mentioned in the existing valuation rulings older than three months period.
Moreover, sources said that DGCV had also requested to allow provisional release and refer the cases to the department through WeBOC system as each case would now be finalised in the light of initiated exercise and new ruling.

Copyright Business Recorder, 2015

Comments

Comments are closed.