KARACHI: M/s Radium Silk Factory has approached the Sindh High Court (SHC) and filed a petition against enhancement of valuation and detention of its consignments of polyester filament under the valuation ruling no 1387/2019.
On 16 April 2020, counsel for the petitioner argued in his petition that petitioner is engaged in the lawful import of the above mentioned goods and always fulfills all the legal formalities according with law.
He further argued that during the course of business, petitioner has imported consignments comprising polyester filament and filed goods declaration according with law and requested the appropriate officer of customs department to accept the declared value under section 25(1) of the customs act, 1969.
He submitted that however, officers of the customs department without confronting the declared transaction value has denied to accept the same and proposed to assess the duty and taxes on the basis on impugned valuation ruling no 1387/2019 which is much higher than the prices actually prevailing internationally.
Counsel further argued that petitioner challenged the impugned direction before the DG Valuation which is pending for final decision, meanwhile the petitioners’ consignments have arrived at port and they sought provisional release of its consignments until final decision by DG Valuation, however, they also denied for provisional release of their consignments.
Citing Chairman Federal Board of Revenue, The Collector of Customs MCC Appraisement West, DG Valuation as respondents, petitioners pleaded the court may declare that act of the respondents is illegal, mala fide and arbitrary.
He further pleaded the court may direct them to release their consignments on provisional release and restrain them from taking any coercive action till final decision of in this petition.