Latest news with #DirectorateGeneralCustomsValuationKarachi
Business Recorder
19-07-2025
- Business
- Business Recorder
Acrylic Acid SAP: new custom values fixed
ISLAMABAD: Directorate General Customs Valuation Karachi has fixed new customs values on the import of Acrylic Acid - Super Absorbent Polymer (SAP) from China, Taiwan, Korea, Japan and Singapore. The directorate has issued a valuation ruling (2010 of 2025). In pursuance of Order in Revision, relating to revisit of values on the import of Acrylic Acid SAP, this directorate initiated an exercise to determine customs value of the said item. Solid surface materials: Customs' valuations revised Meeting was convened which was attended by the relevant stakeholders. The importers informed that they belong to the Sanitary Napkins & Diaper Industry and that the subject item is a raw material for the manufacturing of Sanitary Napkins & Diapers. In this regard, they submitted the export GDs of their consignments. The directorate has determined the values under section 25A of the Customs Act by examining clearance data of the imported goods. 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
19-07-2025
- Business
- Business Recorder
Customs values on import of various heaters fixed
ISLAMABAD: Directorate General Customs Valuation Karachi has fixed new Customs values on the import of gas/electric/hybrid water heaters for assessment of duty and taxes from China and Middle East. In this regard, the directorate has issued a valuation ruling (2009 of 2025) here on Friday. The ruling pointed out that some stakeholders challenged the old Valuation Ruling on the grounds that they import Electric Water Heaters of higher capacities whereas the existing assessed values appear to reflect the pricing of lower capacity models. The General of Customs Valuation, through its Order-in-Revision dated 24.04.2025, the Valuation Ruling with directions to duly address the concerns of the petitioners. The General instructed that all relevant documents, including copies of contracts and other documentary evidence, be taken into consideration for a fair re-evaluation of the determined values. In accordance with the directives issued by the Director General, meetings were convened to re-evaluate the Customs values of the subject goods. The meetings were attended by the relevant stakeholders along with their legal counsel. During the proceedings, the stakeholders were specifically asked to submit their supply contract and provide all relevant documentary evidence to assist in the determination of values for the goods concerned, as outlined in the Order-in-Revision. The stakeholders submitted supply contract, however the contract does not provide a detailed break-up of contract sum. The valuation methods specified in section 25 of the Customs Act, 1969, were duly considered in sequential order to arrive at the Customs values of the subject goods. The declared/transaction values, as laid down under sub-section (1) of Section 25 ibid, were found inapplicable, as the importers did not furnish any documentary evidence to establish that the declared values represented true transactional values. Further, as mentioned products with varying composition and, hence, with varying international and domestic prices are being cleared at more or less same values. The methods based on the values of identical or similar goods were also examined for applicability. However, the import/clearance data reviewed could not be relied upon due to variations in declared values and the presence of multiple types, qualities and quantities being imported and sold at a commercial level compounded by concerns of group under-invoicing. Consequently, the available information was deemed inappropriate for determining Customs values. Market enquiries were conducted, along with some references to international prices of the goods in question available online. Accordingly, the Customs values of the subject goods have been determined under Section 25(7) of the Customs Act, 1969, the directorate added. Copyright Business Recorder, 2025
