Customs values of Ethyl, Methyl and Sec Butyl Acetate revised

Directorate General Customs Valuations (DGCV) has revised the customs values of Ethyl Acetate, Methyl Acetate and Sec Butyl Acetate under Section 25-A of the Customs Act 1969. According to details, the values of the Ethyl Acetate were earlier determined under valuation ruling 646/2014. However, several representations were made from different importers/traders and trade bodies, ie Pakistan Chemicals and Dyes Merchants Association (PCDMA) for determination of customs value of the Methyl Acetate and Sec Butyl Acetate as well.
Therefore, the existing valuation ruling, which is over one year and ten months old, is required to be revised in the light of Sindh High Court's order issued on November 2015.
Since 90 days have passed and representations were received from commercial importers regarding values determined in afore mentioned valuation ruling, an exercise was initiated to re-determine the values of Ethyl Acetate, methyl Acetate and Sec Butyl Acetate in the light of international price trend, in terms of Section 25-A of the Customs Act, 1969, an official release said.
It said that meeting with the stakeholders including importers, trade bodies, ie Pakistan Chemicals and Dyes Merchants Association (PCDMA) and representatives from clearance Collectorates was held on January 19, 2017. The view point of all participants was heard in detail and considered to arrive at customs value for Ethyl Acetate, methyl Acetate and Sec Butyl Acetate.
All the information was analysed for determination of customs value of the subject good. Consequently, the fall back method as provided under section 25(9) of the Customs Act, 1969 was applied arriving assessable customs values of the Ethyl Acetate, methyl Acetate and Sec Butyl Acetate. The Ethyl Acetate, methyl Acetate and Sec Butyl Acetate should now be assessed to duty/taxes at the following Customs Values.
Ethyl Acetate imported from China, Taiwan, Korea and UAE will now be assessed that US$1.20 per kilogram, methyl acetate 99% and above will be at US$0.68 per kilogram and Sec. Butyl Acetate at US$0.905 per kilogram.