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Customs values of frequency inverters under PCT Heading 8504.4090 revised vide VR No 1429/2019

Customs values of frequency inverters under PCT Heading 8504.4090 revised vide VR No 1429/2019

KARACHI: Director, Directorate-General Customs Valuation Shafiq Ahmad Latki has revised customs values of frequency inverters under PCT Heading 8504.4090 vide Valuation Ruling No. 1429/2019.

A number of representations were received by Directorate General that the frequency inverters were being declared with various technical and fabricated names so as to avoid application of the valuation ruling.

Moreover, the valuation rulings, being three years old and the values of subject goods in international market shown varying trend, required re-determination. Keeping in view the above facts, an exercise was initiated to re-determine the customs values of the subject goods under section 25-A of the Customs Act, 1969.