Valuation revised for canned mushrooms at $0.75 per/KG for all origins

KARACHI: Pakistan Customs has revised the valuation for canned mushrooms due to lower assessment rates which was varying from origin to origin at different Customs Stations.
The Directorate General of Customs Valuation on Monday issued Valuation Ruling 639/2014 for the determination of customs values of canned mushrooms at (C&F) $0.75 per kilogram for all origins to prevent the loss of government exchequer.
“Therefore, an exercise of determine the customs values of canned mushrooms under Section 25 A of the Customs Act 1969 was initiated to reflect their existing price trend,” the Directorate said.
Prior to issuing the valuation ruling the Directorate convened meetings with stakeholders, representatives of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Karachi Chambers of Commerce and Industry (KCCI) on February 24, 2014 and February 18, 2014 to obtain views regarding valuation.
In cases where declared values are higher than the customs values determine in this ruling, the assessing officers shall apply those values, the directorate said. “In case of consignment imported between air freight and sea freight while applying the customs values determine in this ruling.”
It said that the values determined vide this ruling shall be applicable customs values for assessment of subject imported goods until and unless it is rescinded by the competent authority.

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