KARACHI: Directorate General of Customs Valuation (DGCV) has revised the customs value of disposable syringes with needles under section 25(9) of the Customs Act, 1969.

According to the details, the customs value disposal / auto-disable syringes with needles were earlier determined under section 25A of the Customs Act, 1969 in March 2022.

However, the DGCV set aside the valuation ruling vide order in revision No. 45/2022 under section 25D of the Customs Act, 1969, with the direction to determine a fresh custom value of the subject goods.

As a result, an exercise was undertaken by the DGCV to re-determine the customs values of subject goods in terms of section 25A of the Customs Act, 1969.

For this purpose, the meeting with all stakeholders, and trade bodies including representatives of clearance Collectorates were held at the DGCV office.

During the meeting, the importers contended that the values in the existing valuation ruling are on the higher side, therefore, customs values of goods may be rationalized to reflect the true transnational values and the current price end in the international market.

The viewpoints of stakeholders were heard in detail and considered to arrive at the customs values of the subject goods. Later, the documents were provided by the importers to substantiate their contention.

Finally, the clearance data, raw material prices, and local market prices including international prices through the internet were examined thoroughly and the information so gathered was utilized and analyzed to determine the customs values of disposal / auto-disable syringes with needles under section 25(9) of the Customs Act, 1969.

Copyright Business Recorder, 2022