Latest news with #CustomsAct1969
Business Recorder
16 hours ago
- Business
- Business Recorder
Varieties of resins: Customs' values revised
ISLAMABAD: The Directorate General of Customs Valuation, Karachi has revised customs values on the import of phenolic resin, epoxide resin and polyurethane resin (pre-polymer for shoe sole) from China, South Africa, Taiwan, Korea and USA. In this regard, the directorate has issued a valuation ruling (2013 of 2025) on Tuesday. The ruling revealed that the customs values of phenolic resin, polyurethane resin, polyurethane resin, (pre-polymer for shoe sole), melamine resin and epoxide resin determined vide valuation ruling number 1813 of 2024 were challenged before the Director General of Customs Valuation under Section 25D of the Customs Act 1969 by M/s Ever Lasting Footwear and M/s Nimir Resins. The director general vide order-in-revision No36/2024 directed the directorate to revisit customs values of subject goods from different origins. In pursuance of the aforesaid order-in-revision, proceedings for re-determination of customs values of subject goods was initiated under Section 25 and 25A of the Customs Act, 1969 and valuation ruling No 1905/2024 was issued accordingly. Moreover, being aggrieved several stakeholders filed revision petitions again under Section 25D of the Customs Act, 1969, before director general of Customs Valuation, Karachi. The director general vide order-in-revision No 63/2024 dated 06.11.2024 set-aside the valuation ruling No 1905/2024 dated 23.09.2024 with the directions to the learned respondent to issue fresh ruling after considering of all aspects by ensuring participation of the relevant stakeholders including M/s Pakistan Footwear Manufacturers Association. In view of the above, this directorate again initiated the proceedings for the re-determination of customs values of subject goods under Section 25A of the Customs Act, 1969. The ruling said that meeting was convened which was attended by relevant stakeholders including the representatives of Pakistan Footwear Association and other stakeholders i.e. the importers and the manufacturers. The representatives were requested to submit relevant documents and evidence to substantiate their contentions. Viewpoints of the participants were heard in detail during the meeting for the determination of customs values under Section 25A of the Customs Act, 1969. The transaction value method as provided in Section 25 of the Customs Act was found inapplicable due to absence of information as required under sub-section (2) of Section 25 of Customs Act. Subsequently, similar goods value method provided in Section 25(6) was also examined in light of the clearance data of subject goods and was finally relied upon for determination of customs values of subject goods except polyurethane resin (pre-polymer for shoe sole) under Section 25A of the Customs Act, 1969.
Business Recorder
16 hours ago
- Business
- Business Recorder
FBR delays Finance Act steps, eases importers declarations
ISLAMABAD: The Federal Board of Revenue (FBR) has delayed implementation of a budgetary measure of Finance Act 2025 till July 30, 2025, which has given an option to facilitate importers to file goods declarations (GDs) prior to berthing of vessels or cross-over of vehicles at land borders. In this regard, the FBR has issued an SRO.1360(I)/2025 here on Tuesday. According to the SRO.1360(I)/2025, in exercise of the powers conferred by section 79 of the Customs Act 1969, the FBR has notified that the option to pay duty, taxes and other charges on completion of assessment for the goods declaration filed prior to berthing of vessel or cross over event of vehicles shall be effective from July 30, 2025. FASTER system: FBR eases cap for deferred ST refunds Under the Finance Act 2025, the importers have been provided option to file goods declarations (GDs) without prior payment of duties and taxes if GDs are filed before berthing of vessel or cross-over of vehicle at land borders. The facility shall be available from such date as notified by the Board. The Chief Collector of Customs, Appraisement (South), Karachi has been directed to ensure the implementation of the change in WeBOC, FBR directed Appraisement Chief Collector. The existing Explanation in section 79 has been substituted. As per the new explanation, the assessment of goods declarations filed at the dry ports may be undertaken in such a manner at such places as may be prescribed by the Board, the FBR added. Copyright Business Recorder, 2025
Business Recorder
19-07-2025
- Business
- Business Recorder
Glass lid for cookware: New customs' values fixed
ISLAMABAD: The Directorate General Customs Valuation Karachi has issued new customs values (US$ 1.25- 1.60 per Kg) on the import of glass lid for cookware of all types (Including Pots, Pans etc.) from China. In this regard, the directorate has issued a valuation ruling (2007 of 2025). According to the ruling, Directorate had issued Valuation Ruling No.1945 of 2025. Subsequently, the Valuation Ruling was challenged before General Customs Valuation under section 25D of the Customs Act 1969. Resultantly, Order-in-Revision was issued and it was directed to afford a hearing opportunity to the petitioners and re-examine the case within four weeks. Therefore, the Directorate of Customs Valuation, Karachi, initiated the process for re-determination of customs values for the subject goods. Govt plans to establish Rs3bn aquaculture park in Karachi Accordingly, based on a detailed analysis of import data, prevailing market trends, and observed discrepancies between market prices and existing customs values this exercise was undertaken in accordance with Sections 25 and 25A of the Customs Act, 1969. During the exercise, the stakeholders argued that the Customs values of subject goods determined vide above mentioned Valuation Ruling were very high and without consultation of stakeholders. Moreover, the item is being imported on very low values as per their declared and invoice values, therefore, should be considered for re-determination of Customs values. Furthermore, the stakeholders provided relevant information including their export GDs and Commercial Invoices in establishing fair customs values. The viewpoints of the stakeholders were heard in detail and evaluated to arrive at the Customs values of the subject goods. However, as the goods comprised of different sizes, especially in two distinct shapes viz with and without steel ring, therefore, Section 25(6) was considered to be more relevant and applicable. Relevant references and data were examined under this method to determine the customs values. Based on the analysis of available import data, which provided a reasonable indication of the actual value of the goods, the customs values were accordingly determined under Section 25(6) of the Customs Act, 1969. Customs values for Glass Lid -hereinafter specified shall be assessed to duty/taxes on the Customs values given against them, the ruling added. Copyright Business Recorder, 2025
Business Recorder
16-07-2025
- Business
- Business Recorder
All types of mangoes for current season: FBR fixes new customs/export values
ISLAMABAD: The Federal Board of Revenue (FBR) has fixed new customs/export value of all types of mangoes for current season. In this regard, the Directorate of Valuation Lahore issued a valuing ruling (2 of 2025) following directive of the FBR. Under the revised valuation regime applicable for all destinations, the new export (FOB) value of all types of fresh mangoes has been fixed at US$800 per metric ton; mango pulp, US$1000 per metric ton and export value of dry mangoes has been set at US$1500 per metric ton. According to the new ruling, the FBR letter read with Ministry of Commerce letter directed the Directorate of Valuation, Lahore to determine export value of mangoes. Consequently, an exercise was initiated by the Directorate of Customs Valuation Lahore to determine values of the said item. Meeting was held for participation of major stakeholders including, representatives from All Pakistan Fruit & Vegetable Exporters, Importers & Merchants Association and exporters of mangoes. The issue pertaining to the valuation of the subject goods was deliberated upon in detail in the afore-referred meeting. Proposals submitted by stakeholders for consideration were thoroughly analyzed. The documents submitted by the stakeholders, arguments submitted during the meeting, price trends and exports data from PRAL were examined for determination of customs export value of mangoes. Valuation provisions under section 25 (15) of the Customs Act 1969, export data, market survey were followed to determine export value that included export data market trends, international market trends and documents submitted by stakeholders, the ruling added. Copyright Business Recorder, 2025
Business Recorder
10-07-2025
- Business
- Business Recorder
Reviews filed by importers: FBR directs customs officials to conduct virtual hearings
ISLAMABAD: In a major move to promote trade facilitation, the Federal Board of Revenue (FBR) has directed customs officials to conduct the 'Virtual Review Hearings' in cases of reviews filed by importers against the orders of Faceless Assessment in Centralised Assessment Unit. The FBR issued customs general order (CGO) number 6 of 2025 on Thursday. According to the FBR, in terms of rule 441 of the Customs Rules. 2001, an importer or authorised agent has the option to file review if they disagree with the assessment finalised by the Assessment Officer. Presently, when a second review is filed before the Assistant/Deputy Collector, they have the option to call hearing or documents. The option to call hearing requires to specify the location and date /time through the system. FBR chief rules out withdrawal of law disallowing 50pc cash sales expenses The introduction of the Faceless Assessment in Centralised Assessment Unit has eliminated physical interaction between the trader/agent with the Customs authorities to promote transparency, eliminate corruption and facilitate quick disposal of cases. To further enhance the objectives of the faceless assessment system and promote trade facilitation, the hearing mechanism in reviews filed before ACs/DCs is being upgraded by incorporating a Virtual Review Hearing option in WeBOC System. Now, in exercise of powers conferred by Section 80(6) of the Customs Act 1969, the FBR has directed that henceforth all review hearings shall be carried out in virtual mode. After assigning of GD to AC/DC for second review in the Allocated GDs folder, he/she shall initially examine the remarks of the trader. In case there is a need to seek further clarification, the AC/DC shall conduct hearing in the virtual mode. In case a trader or his representative, duly authorised in this behalf, needs to present the point of view physically, like presenting samples before the AC/DC, the concerned Additional Collector shall allow physical hearing on case to case basis. The concerned collectorates shall ensure that the offices of the ACs/DCs are well equipped, inter alia, with computers, HD Webcams, speakers, headsets and high-speed internet connections to ensure smooth hearings in virtual mode, FBR said.
