ISLAMABAD: Directorate General of Customs Valuation Karachi has fixed new customs values on the import of Non-Carbon Releasing Paper, Art Card/ Coated Board/ Paper and Light Weight Coated Papers from Japan, China and Indonesia.
In this regard, the directorate issued a ruling (1863 of 2024) on Saturday.
According to the ruling, the customs values of subject goods were determined under section 25A of the Customs Act, 1969 vide Valuation Ruling No: 1801/ 2023. However, being aggrieved, different stakeholders filed revision petition before Director General, Customs Valuation under section 25D of Customs Act, 1969.
Moreover, different stakeholders requested to determine Customs values afresh in line with values prevalent in the international market. Therefore, an exercise has been undertaken by this Directorate to re-determine the same.
Meetings were convened which were attended by all the relevant stakeholders. The issues pertaining to the valuation of subject goods were deliberated upon in detail in the afore-referred meetings. In this regard, Ninety days’ clearance data has been retrieved and the same has been scrutinized. Subsequently, contention of the stakeholders like M/s. Dawn Convertec (Pvt) Ltd. has been examined in the light of the Letters of Credit (LCs) and the contracts provided, and, the same have been juxtaposed / compared with the values of the subject goods in the international market.
The viewpoint of other importers has also been examined in regards to their contention for acceptance of their declared values.
In light of the Director General’s decision vide Order-in-Revision No. 70/2023, based on all documents, 90 days clearance data, and contentions of stakeholders, the matter of the Customs values for China and Japan Origins for the item Coated Art paper in sheets both inside with Kaolin (China Clay) or other inorganic substances or any kind of coating printing or other graphic purpose has thoroughly been scrutinized.
Copyright Business Recorder, 2024
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