Valuation for mixture of fatty acids fixed up to $0.24 per/kg

KARACHI: The Directorate General of Customs Valuation has determined the customs values for mixture of fatty acids up to 0.24 per kilogram for the collection of duty and taxes, according to notification
The following customs values are assessed under Section 25-A of the Customs Act, 1969 included:
Mixture of fatty acids with origin Middle East, Far East & Srilanka, Australia & Newzealand under PCT code 3823.1990 will be assessed up to (C&F) $0.20 to $0.24 per kg.
If transactional values are higher that the customs value determine in this ruling, the assessing officer shall apply those values in terms of Sub-Section (1) of Section 25 of the Customs Act, 1969.
In case of consignments imported by air, the assessing officer shall take into account the differential between air freight and sea freight while applying the customs values.
The ruling is valid until and unless it is revised by the competent authority and review petition may be filed against the ruling under Section 25-D within 30 days from the date of issue, before the Directorate General of Customs Valuation.
Meetings were held with all stakeholders in determination of Customs Values to obtain stakeholder views on above valuation.

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