KARACHI: The Directorate General of Customs Valuation has determined the values of Tractor Parts vide Valuation Ruling No. 728/2015.
Customs values of Tractor Parts were determined in 2011. Honorable Lahore High Court on March 2015 ordered to consider all pending applications of the petitioners under Valuation ruling section. Different stakeholders and representatives invited for their input in the valuation department to re-determine values of tractor parts to reflect international prices.
According to details, numerous representations received in the Directorate to revise the values keeping in view actual price trends in the International. An order issued with the direction to revise current valuation ruling with existing price, an exercise initiated for re-determination of customs values for Tractor Parts.
Tractor Parts value copy per kilogram would be assessed for different Origin duty and taxes at the following rates:
The customs values of Tractor Parts Piston Set for China origin @$1.90, Turkey & Brazil origin @$2.10 and others origins will be $2.28, Ring Set for China origin @$2.50, Turkey & Brazil origin @$2.75 and others origins will be $3.00, Cylinder Blocks for China origin @$1.10, Turkey & Brazil origin @$1.21 and others origins will be $1.32, Cylinder Heads for China origin @$1.10, Turkey & Brazil origin @$1.21 and others origins will be $1.32, Cylinder Liners for China origin @$1.10, Turkey & Brazil origin @$1.21 and others origins will be $1.32, Inlet & Exhaust Valves for China origin @$1.55, Turkey & Brazil origin @$1.70. and others origins will be $1.86, Connecting Rods & Caps for China origin @$1.30, Turkey & Brazil origin @$1.43 and others origins will be $1.56, Tappets, Push Rods & Rocker for China origin @$1.80, Turkey & Brazil origin @$1.98 and others origins will be $2.16, Rear end Housing for China origin @$1.30, Turkey & Brazil origin @$1.43 and others origins will be $1.56, Fuel Pump for China origin @$1.40, Turkey & Brazil origin @$1.54 and others origins will be $1.68, Water Pump Assembly for China origin @$1.20, Turkey & Brazil origin @$1.32 and others origins will be $1.44, Main Shafts, Counter Shafts & Cam Shafts for China origin @$1.35, Turkey & Brazil origin @$1.48 and others origins will be $1.62, Crown Wheel Pinion & Parts / Gear Set for China origin @$1.30, Turkey & Brazil origin @$1.43 and others origins will be $1.56, Crank Shaft Assembly for China origin @$1.20, Turkey & Brazil origin @$1.31 and others origins will be $1.44, Gaskets & Joints for China origin @$1.20, Turkey & Brazil origin @$1.32 and others origins will be $1.44.
A revision petition may be filed against this Ruling.