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Tag Archives: Valuation

Customs Valuation DG rejects petition against Valuation Ruling 707/2015 regarding printing inks

KARACHI: Customs Valuation Director General Sumaira Nazir has rejected the review petition filed by manufacturer M/s DIC Pakistan Ltd against Valuation Ruling 707/2015 with respect to the product ‘printing inks’. The petition was filed under Section 25D of the Customs Act, 1969, against the customs value determined for printing ink vide Valuation Ruling 707/2015 dated 16-01-2015 issued under Section 25-A ... Read More »

Customs Valuation determines values of PC standard iron/steel wire

KARACHI: Directorate General Customs Valuation has determined customs values of PC stranded wire of iron/steel, not electrically insulated, through Valuation Ruling No. 716/2015 under Section 25-A of the Customs Act, 1969. According to details, customs values of PC stranded wire of iron or steel from all origins having PCT Heading 7312.1010, 7312.1020 and 7312.1090 having proposed PCT for WeBOC are ... Read More »

Valuation Dept determines customs values of energy drinks

KARACHI: Directorate General of Customs Valuation through a Valuation Ruling No 713/2015 determined customs values of energy drinks (HS Code No2202.1010) under Section 25-A of the Customs Act, 1969. According to details, customs values of Epic (energy drink) having PCT Code 2202.1010 and proposed PCT for WeBOC 2202.1010.1000 from Austria Origin are fixed at US$1.25 per liter. Customs values of ... Read More »

Customs issues fresh values of mosquito coil, aerosol insecticide spray

KARACHI: Director of Customs Valuation Abdul Rashid Shaikh issued a fresh valuation ruling i.e. VR No 714/2015 in order to determine the customs values of mosquito coil and aerosol insecticide spray under Section 25-A of Customs Act, 1969. Valuation ruling No 714/2015 has superseded VR No 419/2012 along with amendments and VR No 524/2012. According to details, customs values of ... Read More »

Customs authorities re-determine values of polyester yarn through VR No709/2015

KARACHI: The Directorate General Customs Valuation Department has re-determined the Customs values of Polyester Yarn through Valuation Ruling No 709/2015 which superseded the previous Valuation Ruling No 673/2014 of the said item. According to details, the values determined vide this Ruling shall be applicable Customs value for assessment of subject imported goods until and unless it is rescindrd or revised ... Read More »

Customs seizes Viscos Yarn consignment on using wrong PCT

ISLAMABAD: Directorate of Customs Intelligence and Investigation Islamabad has seized a container of Viscos Yarn Clothes and registered FIR against Saleem Silk Center Rawalpindi on their attempt to clear the consignment by mis-declaration. As per details, the payable duty on the consignment was Rs 4.8 million but importer paid only Rs 1.8 million duty, usually payable for Fabric cotton and ... Read More »

Closure of Valuation Dept on Saturdays worries importers

KARACHI: The closure of the Directorate General of Valuation on Saturdays and Sundays is depriving the importers and clearing agents the opportunity to verify value-related complaints timely. Surprising as it is, many of the staff at the Directorate favours reducing the weekly day-offs from two days to just one- that is Sunday being the only weekly day-off. For this reason, ... Read More »

Dar rejects MPCL price restructuring plan

ISLAMABAD: Finance Minister Ishaq Dar declined a gas price restructuring plan for Mari Petroleum Company Limited (MPCL) which could not be implemented through an agreement between two majority shareholders. After a detailed briefing by retired Lt-Gen Nadeem Ahmad, Managing Director of MPCL, the minister did not agree with the proposal and desired the company and the Petroleum Ministry to present ... Read More »

Importers, traders express concerns over valuation guidelines of cotton, cotton-blended fabrics

KARACHI: The importers and traders have expressed their deep concerns over the valuation guidelines issued by Pakistan Customs-FBR on import of cotton fabric and cotton-blended fabric. The importers and traders were of the view that the Pakistan Customs has issued a high valuation guideline of cotton-blended fabric as compared to cotton fabric. One of the importers while sharing his views ... Read More »

Importers, traders irked by higher valuation, gross weight charges

KARACHI: Pakistan Customs authorities are determined to reduce the massive difference between the revenue collection and the revenue target set by the Federal Board of Revenue for the fiscal year 2013-14 through exercising all its available powers, which is badly affecting the trade and import activities in the port city. The importers and traders have expressed their deep concerns over ... Read More »

KCCI President rejects valuation guidelines

KARACHI: Karachi Chamber of Commerce and Industry President Abdullah Zaki, while expressing deep concerns over valuation guidelines on imported goods, has said that the trade and industry rejects these guidelines. KCCI President requested Federal Finance Minister, Ishaq Dar to take notice and stop the authorities from issuing such unfair valuation guidelines. Speaking at the 2nd meeting of KCCI’s Sub-Committee on Customs ... Read More »

Customs values of Industrial roller chains, sodium lauryl ether sulphate issued

KARACHI: Directorate General of Customs Valuation has determined the customs values of Industrial roller chains and Sodium Lauryl Ether Sulphate first time ever, through the Valuation Rulings No. 641/2014 and 642/2014 respectively under Section 25-A of the Customs Act, 1969. Customs value of Industrial roller chains from China having Pakistan Customs Tariff (PCT) code 7315.1190 and proposed PCT code for ... Read More »

Valuation Ruling for food supplement issued

KARACHI: Directorate General of Customs Valuation has determined the customs values of food supplements (drinking powder Milo, Nesquick, Bournevita, Ovaltine, Complan and Horlicks, first time ever, through a Valuation Ruling No. 640/2014 under section 25-A of the Custom Act, 1969. Customs values of drinking powders including Milo, Nesquick, Bournevita, Ovaltine and Complan from all origins having Pakistan Customs Tariff code ... Read More »

Customs values of light fittings, canned Mushroom issued

KARACHI: Directorate General of Customs Valuation has determined the customs values of light fittings/fixtures through Valuation Ruling No. 638/2014 and canned mushroom through Valuation Ruling No. 639/2014 under Section 25-A of the Customs Act, 1969. According to details, the customs values of LED Lighting fixtures (with bulbs) from China having Pakistan Customs Tariff (PCT) codes 9405.1090 and 9405.4090 and proposed ... Read More »

Charges of freight, shipping companies must be regulated: KCCI President

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Aamir Abdullah Zaki has urged the government to take on board the business community and other stakeholders to evolve a consensus for tax reforms and collection. “Look, the business community, being a key stakeholder, wants to sit down and discuss tax reforms with the government to develop a foolproof tax collection ... Read More »

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