ISLAMABAD: Directorate General of Customs Valuation Karachi has issued new customs values, within the range of US$2.40 to US$3.50per kg, on the import of Silicon in Primary Form (Emulsion Grade) from China and other countries.
The directorate has issued a ruling 1951 of 2025 for assessment of duties and taxes on the import of said item.
This ruling has superseded Valuation Ruling No.77912015 dated 08.12.2015.
Background of the issue revealed that in pursuance of analysis of import data, current market trends, the difference in market prices and customs values, an exercise for the determination of customs values of subject goods was initiated under Section 25A of the Customs Act, 1969.
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The meeting for the determination of customs values was attended by the relevant stakeholders.
Their viewpoints were heard in detail in view for the determination of customs values of the subject goods under Section 25A of the Customs Act, 1969. They were requested to submit relevant import documents to substantiate their contentions.
For the determination of customs values of subject goods, ninety (90) days data was retrieved and the same was thoroughly scrutinized. Some references of declared values were available.
The values determined in this Valuation Ruling shall be treated as minimum benchmark values. In cases, where declared values or values in invoice retrieved from the consignment, as the case may be, are higher than the customs values determined in this valuation ruling, the assessment shall be made on higher values in terms of sub-section (1) of Section 25 of the Customs Act,1969.
Copyright Business Recorder, 2025
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