Gas stoves, parts valuation revised after massive under-invoicing

KARACHI: The Directorate General of Customs Valuation has revised the valuation of gas stoves and parts after information of massive under-invoicing causing huge revenue loss to national exchequer.
The directorate said that it was brought to the notice that gas stoves and parts were being imported and under-invoiced values causing loss of revenue to government exchequer. “This prompted an exercise to determine the customs values for imported gas stoves and their parts,” the directorate said while issuing Valuation Ruling No. 607/2013.
The new valuation prices of the goods fixed imported from China, which is sole country of export.
Gas Stoves (One Burner) $20 per unit fixed as customs value (C&F)
Gas Stoves (Two Burner) $25 per unit fixed as customs value (C&F)
Gas Stoves (Three Burner) $30 per unit fixed as customs value (C&F)
Gas Stoves (Four Burner) $40 per unit fixed as customs value (C&F)
Gas Stoves (Five Burner) $45 per unit fixed as customs value (C&F)
The valuation of gas stove parts fixed as: Burner at $2.5/kg; Ignition Switch $1.2/kg; valve $2.4/kg; knob/other parts $1.1/kg.

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