ISLAMABAD: The Directorate General of Customs Valuation, Karachi has rationalized customs values on the import of a wide range of stationery items to bring them at par with actual international prices.
The directorate has issued a valuation ruling number.1866 of 2024 here on Tuesday.
Reacting to the ruling, industry sources said the values have been revised in line with the international prices, but these are still on the higher side. However, the industry is of the view that now the values are appropriate and actual taking into account international prices.
Customs’ values on import of 23 types of stationery items enhanced
Earlier, the Customs values of Stationery items were determined under section 25A of the Customs 1969, vide Valuation Ruling 1804/2023. This Valuation Ruling was challenged under section 25D before directorate.
Therefore, an exercise was initiated by the Directorate of Customs Valuation, Karachi to re-determine the Customs values of the subject goods in terms of section 25A of the Act,1969. Stakeholders’ participation in determination of Meeting was convened which was attended by all the relevant stakeholders. The issues pertaining to the valuation of subject goods were deliberated upon in detail in the afore-referred meeting.
The stakeholders submitted their proposals and the same were considered pertaining to the valuation of subject goods.
Ninety days’ clearance data was retrieved and the same was scrutinized. The analysis revealed that the declared values of black lead pencil in bulk packing of China origin ranged from US$0.019 per piece to US$0.028 per piece. Similarly declared values of black lead pencil in retail packing from same origin ranged from US$ 0.020 per piece to US$ 0.032 per piece.
Likewise, declared values of color pencils in cardboard box packing (half size) ranged from US$0.010 per piece to US$ 0.015 per piece. Whereas, declared values of color pencil in. cardboard box packing (Full size) ranged from US$ 0.016 per piece to US$0.035 per piece. Subsequently, market enquiry was conducted and examined in the light of this Directorate’s Office order and in terms of section 25 (7) of the Customs Act, 1969.
Finally, the Customs values of subject goods have been determined under section 25 of the Customs Act, 1969, the ruling added.
Copyright Business Recorder, 2024