Customs Valuation Ruling (VR) leave no room for value dispute requests

KARACHI: The Chief collector of Customs (South) has made it clear that the customs value of any imported commodity determined by the Director Customs Valuation in the form Valuation Rulings (VR) is binding and in its presence no request for section 81 ibid on account of value dispute shall be entertained.
The field formations are directed not to ignore the Valuation Rulings (VR) under section 25-A of the Customs Act, 1969 as it resulted in loss to revenue besides causing legal and procedural glitches.
The directives came after it was noticed that VRs were being ignored by the Customs assessing staff.
The Valuation Ruling under section 25-A of the Customs Act, 1969 by Director Customs Valuation, Karachi is binding and mandatory meaning thereby that if custom value for any imported item/commodity is determined in the form of VR. Then such item shall be assessed to duties and taxes on the basis of such determined customs value.
In case declared value of any consignment is more that the value in VR, the goods shall be assessed to duties and taxes at the higher declared value while higher declared value may also be communicated to the Director Customs for revising customs value upward.
The Valuation Ruling shall remain valid even if review is filed before Director General Valuation under section 25-D ibid, or an appeal is filed before Appellate Tribunal unless stay is granted by the competent forum.

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