ISLAMABAD: The Directorate General of Customs Valuation, Karachi has increased 15pc to 20 pc customs values on the import of a wide range of papers including uncoated offset paper for writing, printing and photocopy from Australia, Brazil, China, Indonesia, Singapore, Japan, Thailand, and Russia.
In this connection, the directorate has issued a valuation ruling on Monday.
Through another ruling, the directorate has also revised the customs values on the import of branded self-adhesive sticker paper in sheets from China, Indonesia, Australia, Brazil, Singapore, Japan, Russia, and Thailand.
The third valuation ruling has revised customs values on the import of non-carbon releasing paper, art card/ coated board/ paper and lightweight coated papers from China, Indonesia, Korea, Japan, and Europe.
The ruling 1716 of 2022 revealed that the customs values of uncoated offset paper for writing, printing and photocopy were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.1532/ 2021. 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.
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In line with the statutory sequential order of Section 25 of the Customs Act, 1969, the Directorate conducted market survey and various wholesale and retail markets were visited to observe the actual prices of uncoated offset paper for writing, printing and photocopy. On the basis of available data/ information collected and exercise conducted the values of uncoated offset paper for writing, printing and photocopy have been determined.
The ruling 1715 of 2022 highlighted that the Customs values of self-adhesive sticker paper in sheets were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling NoI533/ 2021 dated 27-05-2021. However, different stakeholders requested to re-determine Customs values afresh in line with values prevalent in the international market. On the basis of available data/information collected and exercise conducted the values of self-adhesive sticker paper in sheets have been determined, it added.
The ruling 1717 of 2022 disclosed that the Customs values of non-carbon releasing paper, art card/ coated board/ paper and lightweight coated papers were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.1534/2021. 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.
On the basis of available data/ information collected and exercise conducted the values of non-carbon releasing paper, art card/ coated board/ paper and lightweight coated papers have been determined, the new ruling added.
Copyright Business Recorder, 2022
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