ISLAMABAD: The Directorate General of Customs Valuation, Karachi has issued new customs values on the import of Water Based Acrylic Type Self Adhesive Tape (BOPP/OPP) and Hot Melt Rubber Based Self Adhesive Tape in Jumbo/Log Roll.
The items are imported from China/ Hong Kong/ Malaysia, Korea/ UAE/ and Canada/ Europe/ Japan/ USA and Taiwan.
In this regard, the directorate has issued a valuation ruling (1865 of 2024) here on Thursday.
The Customs values have been determined after duly accounting for the aspects of tare weights regarding spool/wrapping etc. At the assessment stage, no further allowance is admissible on any account, ruling added.
According to the ruling, the Customs values of Water Based Acrylic Type Self Adhesive Tape (BOPP/OPP) and Hot Melt Rubber Based Self Adhesive Tape in Jumbo/Log Roll or in Retail Packing were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.1818/2023. However, different stakeholders requested to re-determine Customs values afresh in line with values prevalent in the international market. Therefore, an exercise has been undertaken by this Directorate to determine the same.
The importers contended that the Customs values of Water Based Acrylic Type Self Adhesive Tape (BOPP/OPP) in Jumbo Rolls of China origin are higher in the Valuation Ruling and the same need to be revised downwards at prevailing international prices. They claimed that the imported jumbo rolls are not available in the local market due to the reason that further processing of cutting, wrapping and printing is required before selling the said goods in retail packing in the local markets. They also requested to consider the prices of raw materials i.e., BOPP granules (55%) and Glue (45%) used for producing BOPP Tape jumbo rolls and add 30% Conversion cost to arrive at fair Customs values. They further emphasized the difference between exorbitant freight charges at the time of issuance of VR No. 1588/2022 and current freight charges. They also submitted proposals, Export GDs and copies of sales tax invoices to substantiate their claim.
The representative of M/s. Universal Coating Film (Pvt) Ltd, a local manufacturing industry, claimed that there is a wide variation in Transaction values of importers and promised to submit GDs with declared value of US$1.68/Kg to US$1.71/Kg.
Various wholesale markets were visited to observe the actual prices of Water Based Acrylic Type Self Adhesive Tape (BOPP/OPP) and Hot Melt Rubber Based Self Adhesive Tape in Jumbo Rolls of various origins. However, the Jumbo Rolls were not readily available in the local market.
Copyright Business Recorder, 2024