ISLAMABAD: Directorate General of Customs Valuation Karachi has fixed new customs values on the import of playing cards from China and Taiwan.

According to a valuation ruling issued by the directorate on Saturday, the new customs values of playing cards made of paper/Plastic coating have been determined.

Background of the valuation issue revealed that the customs values of Playing Cards were determined under Section 25A of the Customs Act vide Valuation Ruling No. 1631/2022.

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The Directorate, vide Order in revision No. 94/2022 passed by the Director General of Customs Valuation under Section 25D of the Act, was asked determine the customs values of subject items afresh under Section 25A of the Customs Act in line with prevailing prices of raw material in the international market.

Therefore, an exercise was initiated by the Directorate of Customs Valuation, Karachi to re-determine the customs values of the subject goods.

In line with statutory sequential order of Section 25, computed value method, as provided in Section 25(8) of the Customs Act, 1969 was examined, but the same also could not be applied as the conversion cost from the constituent materials and allied expenses, in the country of export, were not available for manufacturing of Playing Cards. Finally, the Customs values of the subject goods have been determined under Section 25(9), read with Section 25(7), and Customs Rule 121(2) of Customs Rules, 2001 which provides that the methods of valuation, to be employed, But a reasonable flexibility in the application of such methods would be in conformity with the aims and provisions of Customs Act.

Copyright Business Recorder, 2024