Customs values of Cable Wire Lock revised

KARACHI: The Directorate General of Customs Valuation has determined the values of Cable Wire Lock vide Valuation Ruling No. 731/2015.

Customs values of Cable Wire Lock were determined in 2014 and were contested by the Importers before the Customs Appellate Tribunal. The Tribunal set aside the impugned ruling and remanded back for deciding the matter afresh.

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 redetermination of customs values for Cable Wire Lock.

The values of Cable Wire Lock per kilogram would be assessed for different Origin’s duty and taxes at the following rates:

The customs values of Cable Wire Lock of China origin up to 150 grams  is now $1.25/kg, from 151 to 250 grams is $1.35/kg and above 250 grams is $1.40/kg; values of Cable Wire Lock from UAE, Taiwan, Korea and Hong Kong of up to 150 grams is $1.40/kg, from 151 to 250 grams is $1.50/kg and above 250 grams is 1.55/kg; values of Cable Wire Lock from Europe and USA of up to 150 grams is $1.85/kg, from 151 to 250 grams is $2.00/kg and above 250 grams is $2.10/kg.

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