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Goods to be assessed as per normal market practice:  Member Customs Operations Jawwad Agha

Goods to be assessed as per normal market practice:  Member Customs Operations Jawwad Agha

KARACHI: Federal Board of Revenue (FBR) Member Customs Operations Jawwad Uwais Agha has said that Federal Board of Revenue (FBR) has achieved a milestone by discarding obsolete system of measuring the goods on weight basis and now the goods would be assessed to duty as per their normal market practices. According to the details, a seminar on ‘Rationalization of Units of Measurements and Valuation thereon’ was held in the Directorate General of Training & Research DGTR (Customs). The Seminar was chaired by Member, Customs Operations Jawwad Uwais Agha and attended by a large number of Customs officers, representatives from FPCCI, Karachi Chamber of Commerce & Industry, customs clearing agents and other trade bodies. Director General Customs Training Faiz Ahmad during the inaugural address, highlighted the critical significance of rationalization of units of measurements and its linkage with valuation, while welcoming the participants. Talking about the purpose of rationalization of Units of Measurement Member, Customs Operation Jawwad Uwais Agha said that it was necessary to bring the same as per recommendations of WCO as well as international/ national trade practices to bring uniformity in assessment of imported goods. He said that FBR has achieved a milestone by discarding obsolete system of measuring the goods on weight basis and now the goods would be assessed to duty as per their normal market practices. He thanked the trade bodies for showing interest in newly introduced scheme and commended their assistance in revising Valuation Rulings of items falling in said rulings. Talking to audience DG Customs Valuation Mukarram Jah Ansari gave the background of section 25-A of Customs Act which pertains to determination of Customs Values.  He said that to modernize the working of Customs according to international best practices, the current CGO rationalizes the units of measurements and is a step-in right direction. He also appraised the participants that valuation rulings for 970 imported items have been revised ad uploaded in the system as per new units of measurement. Collector Appraisement Wajid Ali, Director, Customs Valuation, Karachi Shafique Ahmed Latki, and Additional Collector Rizwan Bashir, through presentations gave detailed briefing on the processes adopted for achieving the purpose. Trade representatives from different sectors present on the occasion appreciated the efforts by the department and issuance of Rulings by the Director General Valuation by taking on board all the stakeholders. The Member (Customs) assured the trade bodies that the Directorate General of Valuation and Collectorates shall be available to remove anomalies, if any, in the rulings to make these changes facilitative and in line with trading practices for larger economic interest of the country.