Customs values for exercise machines revised
KARACHI: The Director General of Customs Valuation has redefined customs values of various types of exercise machines under PCT code 9506.9100 as a major importer had filed a representation for the revision of customs values on the ground that the existing values were not reflective of actual market values. Taking into consideration the representation filed and also that about six months had passed since the determination of previous values, an exercise to determine the customs values for the subject goods was initiated. The values have been revised vise Valuation Ruling No. 563/2013 and exercise machines of China origin will be assessed to duty/taxes at the following customs values. The revised customs values for motorized treadmills up to 1HP would be $4.35 /KG; Values for motorized treadmills 1HP to 2HP would be $4.5/KG; motorized treadmills 2.1HP to HP would be assessed at $6.05/KG. Customs values for exercise bike have been revised to $4.05/KG; Elliptical Trainer at $5.00/KG; Gymnasiums at $1.50/KG and multi-station gymnasiums would be assessed to duty/taxes at $2.5/KG.