KARACHI: The DG of Customs Valuation Samaira Nazir Khan has rejected the revision petition filed by the USB flash drive importers to revise downward the values of USB flash drives notified via Valuation Ruling No 668/2014.

M/s Himmcom, Pakistan submitted the customs value of USB Flash Drive had been increased from Rs70 per piece to Rs150 per piece through the Valuation Ruling No 668/2014. The importer submitted that USB Flash Drive was such an item through which a minimum profit was earned. The importer added that fixing values of this item on higher side would tantamount financial killing of the importers. It further stated that new assessment formula for reducing valuation on USB Pen drive should be re-considered.

The DG of Customs Valuation stated the record of the case had been examined and the arguments put forward by the importer were considered. The importer failed to submit all the necessary documents that were required and the importer failed to substantiate the claims of valuation being on the higher side.

The Customs authorities had reconsidered the Valuation of USB Data Traveler/USB Drive/Memory Card. As a result, the impugned ruling was revised vide valuation ruling No 688/2014 dated 23-09-2014 and the assessable customs values were re-determined in the light of fresh findings.

As such, the disputed valuation now stands resolved and apparently settled with the satisfaction of concerned stakeholders. “In the light of the reasons given above, and keeping in view the legal infirmities in the revision petition, the same is not maintainable and is accordingly rejected”, order stated.