KARACHI: The Director Customs Valuation Manzoor Hussain Memon has revised the customs values of tyres & tubes vide Valuation Ruling No.812/2016.

Customs values of tyres and tubes were determined vide Valuation Ruling No.659/2014 followed by corrigenda dated 01/04/2014. The trade community was demanding revision in prices of this commodity owing to downward trend in the prices in the international market. Accordingly, an exercise was conducted to ascertain the values of tyres and tubes.

If a radial tyre is imported which is not covered in this Ruling No.812/2016 and whose specifications are similar to normal tyre except for being radial, such tyres may be assessed at 25 percent higher than the normal tyre.

Where only tyres are imported, other than tubeless, deduction of 5.0 percent shall be allowed on Ruling value. Value of tyres with different “Ply” shall be assessed by adding or subtracting from the determined value at the rate of 5.0 percent per two ply rating. Discount of 5.0 percent is admissible for import of tyres & tubes through land route on C&F values determined by the Directorate General.

The determined values of tyres and tubes under Valuation Ruling No. 812/2016 are as under:

04 05 06 07