The Directorate General Customs Valuation (DGCV) has revised the customs values of BOPET/Holographic & PET Sequin Film under section 25-A of the Customs Act 1969. According to revised ruling, the customs values of BOPET/Holographic & PET Sequin Film were earlier determined through valuation ruling 876/2016. There were several representations from different traders and flexible packaging association of converters of Pakistan for determination of customs value of BOPET Film a fresh.
They claimed that the prices of BOPET Film are showing a downward trend in the international markets and existing valuation ruling, which was over one year old, was required to be revised as per Sindh High Court orders For the purpose, the meetings with stakeholders and local manufactures were held to discuss the current international prices of subject goods. The importers were asked to furnish the relevant documents.
During meeting, commercial importers produced the copies of import documents however copies of requisite sales tax paid invoices were not produced by them. They verbally stated that during last one year, prices of the subject items were showing a downward trend in the international markets. On the other hand the viewpoint of local manufacturers was opposed to the commercial importers. The local manufacturers produced the copies of the shipping bills to substantiate their viewpoint. The viewpoint of all participants was heard in detail and considered to arrive at customs value of the said items. After adopting all relevant methods, PRAL database, market information and international prices through web were examined thoroughly. All gathered information was analyzed for determination of customs value of the said items. Consequently, the customs value of BOPET / Holographic & PET Sequin Film have been determined under section 25-A of the Customs Act.
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