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DG Valuation revises customs values of stationery items vide VR No 1507/2019

DG Valuation revises customs values of stationery items vide VR No 1507/2019

KARACHI: Directorate-General Customs Valuation has determined customs values of stationery items under Section 25-A of the Customs Act, 1969.

Earlier, customs values of stationery items were determined through Valuation Ruling No. 1379/27.6.2019. The Federal Board of Revenue issued CGO No. 15/2019 & 17/2019 dated 14.8.2019 and 19.9.2019 respectively which Unit of Measurement (UOM) of a number of commodities including stationery items (pencils, crayons etc).

Meeting with stakeholders was convened on 29.10.2019 which was attended by different stakeholders and importers, the participants were requested to submit

I               Invoices of imports during last three months showing customs value

2              Website, names and e-mail addresses of known foreign manufacturers of the item in question through which the actual current value can be ascertained.

  1. Copies of contracts/LCs opened during the last three months showing the value of item in question
  2. Copies of sales tax invoices issued during the last four months showing the difference in price (excluding duty and taxes) to substantiate their contention.

The modus operandi converting the values from kilograms to unit basis was discussed and it was unanimously agreed that list prices published, particularly for lead pencil would be taken in to account and after deducting agreed margins of profit values would be determined on number basis.

Customs valuation methods given in Section 25- of the Customs Act, 1969 were applied in sequential order to address the valuation issue at hand.

Transaction value method under sub-section (i) of Section 35 of the act ibid was found inapplicable because requisite information under the law was not available. Identical and similar goods valuation methods provided in sub-section (5) and (6) of the Section 25 of the Customs Act, 1969 provided some reference values but due to wide variation and suppressed declaration, the same could not be relied upon.

Deductive value method under sub-section (7) of section 25 of the Customs Act, 1969 was applied to arrive at the assessable customs values of the subject goods, being most appropriate for the purpose.