Customs value of garments of low end brands revised

Directorate General Customs Valuation (DGCV) has revised the customs values of garments of low end brands of China, Indonesia, Malaysia, UAE, Bangladesh, Sri Lanka, Thailand, Vietnam and other origins under sub-section (7) of section 25 of the Customs Act, 1969.

According to details, the customs values of garments of low end brands were earlier determined vide valuation ruling 886 in 2016. Since the values given therein were more than 3 years old, it was deemed expedient to revise the same, keeping in view the international prices of subject goods.

Moreover, the Federal Board of Revenue (FBR) has issued CGO No. 15/2019 and CGO 17/2019 wherein Unit of Measurement (UoM) of a number of commodities including socks and legging was changed from kilogram to unit (per piece) for the purpose of assessment. Therefore, an exercise to determine the customs values of subject goods was initiated under 25-A of the act.

For the purpose, meeting was held with stakeholders to discuss the current international prices of subject items. The meeting was attended by number of stakeholders including representatives from All Pakistan Customs Agents Association & the Federation of Pakistan Chambers of Commerce & Industry. The DGCV heard their point in detail and considered to arrive at customs values of the subject good.

Later, the Directorate conducted market inquiries in terms of sub-section (7) of section 25 of the Customs Act, 1969. Consequently, all gathered information through market survey was analyzed and evaluated that led the revision of customs values of garments of low end brands of China, Indonesia, Malaysia, UAE, Bangladesh, Sri Lanka, Thailand, Vietnam and other origins under sub-section (7) of section 25 of the Customs Act, 1969.