KARACHI: The Directorate General of Customs Valuation has revised the Customs values of cable/wire locks vide Valuation Ruling No. 647/2014.
It was brought into the notice of Directorate General that cable/wire locks under PCT 8301.4000 were being assessed at variable values by clearance collectorates.
An exercise was conducted to determine the Customs values of the subject goods under section 25A of the Customs Act, 1969.
Cable/wire locks of China origin would now be assessed for duty/taxes at the rate of $1.3KG for locks up to 150grams per unit and at the rate of $2.5 per KG for locks weighing 151 to 300 grams per unit.