KARACHI: Samaira Nazir Khan Director General Directorate General of Customs Valuation Karachi has rejected the revision petition of Khuram Azhar, proprietor of Astrontech Inc. Lahore under Section 25D of Customs Act. 1969 against Valuation Ruling regarding Synthetic Rubber ‘NBR’ and ‘SBR’ imported from United Arab Emirates.
In the order it was said that the petitioner did not appear for hearing in spite of three opportunities, therefore the case was decided after examining case record and no merit was found in the written submissions of the petitioner lacking supportive evidences.
The petitioner in its review petition submitted that Director Customs Valuation Karachi did pass unjust and harsh valuation ruling under Section 25(A) and determined the values of the imported clear Styron SBR on the basis of the market data as laid down under Section 25(7) of the Customs Act 1969 without the hearing opportunity to the applicant.
It claimed that valuation ruling was time barred under Rule 107 of the Customs Rules 2001 therefore the appellant’s consignment did not assess on time barred ruling, therefore the valuation ruling was liable to be set aside.
In reply objections regarding undervaluation f NBR and SBR that resulted revenue loss of to the tune of Rs 80 million to the national kitty, the Customs Valuation department said valuation ruling was not time barred as per para-6 of the Valuation Ruling that clearly stated ‘the values determined vide this ruling shall be applicable for assessment of subject imported goods until and unless it is rescinded of revised by the competent authority in terms of sub-section (I) or (3) of Section 25A of the Customs Act 1969’.
The Director General in the view of mentioned facts and legal infirmities, observes the same does not merit consideration and is hereby rejected.