KARACHI: Directorate General Customs Valuation (DGCV) has revised the Customs value of fresh dates under Section 25 (9) of the Customs Act, 1969.

According to the details, the Customs value of fresh dates was earlier determined under section 25A of the Customs Act, 1969 vide valuation ruling no 1133 in April 2017.

As the valuation ruling was approximately five years old, the Quetta Chamber of Commerce and Industry (QCCI) and Sarhad Chamber of Commerce and Industry filed representations before the FBR. A meeting was held in FBR which was chaired by the chairman FBR and attended by the member (Customs-Policy), Director General Customs Valuation, and other participants including the representatives of both the chambers.

Keeping in view the difference between freight from land and sea routes, an exercise was undertaken by the DGCV to determine afresh the customs values of subject goods in terms of section 25A of the Customs Act, 1969.

It was also highlighted that subject goods were consumer goods having limited shelf life and were sold in frequency at the local retail and commercial level. The importers requested that such factors may be considered while determining the value of the subject goods.

Later, the clearance data, market information, and international prices were examined thoroughly and the information was utilized and analyzed for the determination of the customs values of the subject goods under section 25 (9) of the Customs Act, 1969.

Copyright Business Recorder, 2022