KARACHI: Directorate General Customs Valuation (DGCV) has revised the Customs values of various types of unbranded dyes.

According to the details, the directorate has received representation regarding under-invoicing in the import of reactive dyes, acid dyes, direct dyes, disperse dyes and optical brightening agents and requested to determine the customs values of the said goods in line with the international market trends.

In response, meetings were convened last month, which were attended by the relevant stakeholders including Pakistan Chemicals & Dyes Merchants Association. The issues on the valuation of subject goods were deliberated upon in detail. The participants also submitted their proposals and the same were considered for the valuation of the subject goods.

The stakeholders contended that the prices of Dyes and Optical Brightening Agents vary based on branded and un-branded goods. Furthermore, some of the importers are declaring values on the lower side than the actual values in the international market.

Therefore, the customs values of the subject goods needed to be determined as per the prevailing international prices. They also submitted proposals in this regard. Consequently, the directorate has retrieved 90 days’ clearance data and scrutinized the same.

Later, the Directorate conducted a market survey under sub-section (7) of Section 25 of the Customs Act, 1969 wherein various wholesale and retail markets were visited to observe the actual prices of reactive dyes, acid dyes, direct dyes, disperse dyes, and optical brightening agents of different origins. Finally, based on available information, the values of reactive dyes, acid dyes, direct dyes, disperse dyes and optical brightening agents have been determined under sub-section (7), read with section 25(9), of section 25 of the Customs Act, 1969.

Copyright Business Recorder, 2023