KARACHI: The Directorate General of Customs Valuation has determined the customs values of betel nuts up to $1.10 per Kilogram for the duty collection, according to a notification.
The following customs values of betel nuts are assessed included:
Betel nuts of origin Indonesia and Malaysia under PCT code of 0802.8000 will be assessed at the rate of (C&F) $0.85 per kg.
Betel nuts of origin Thailand under PCT code of 0802.8000 will be assessed at the rate of (C&F) $1.10 per kg.
After consultation with all the stakeholders including Kiryana Merchants Association, representatives of Karachi Chambers of Commerce and Industry (KCCI) and Federation of Chambers Commerce and Industry valuation prices have been fixed.
As per notification, “if transactional values are higher than the customs value determined in Valuation Ruling No.614/2013, the assessing officer shall apply those values in terms of Sub-Section (1) of Section 25 of the Customs Act, 1969.†A review petition may be filed against this ruling within 30 days.
In case of consignment imported by air, the assessing officer shall take into account the differential between air freight and sea freight while applying the customs values determined in this ruling.