Appellate Tribunal orders for Valuation of menthol crystal; determined value up to $30 per/kg

KARACHI: The Appellate Tribunal Court has ordered to customs authorities for revising the valuation of menthol crystal up to $30 per kilogram due to the collection of tax and duty, a notification said on Wednesday.
According to Valuation Ruling No.650/2014, revision application for customs valuation of menthol crystal was earlier rejected by the Directorate General of Customs Valuation but later on December 2, 2013 higher court ordered to determined values of the said good.
The determined values for menthol crystal are included:
1. Menthol crystal of China origin will be assessed at the rate of $18/kg
2. Menthol crystal of India origin will be assessed at the rate of $17/kg
3. Menthol crystal of other origins will be assessed at the rate of $30/kg
As per notification, valuation method given in Section 25 of the Customs Act, 1969 were applied to address the valuation issue at hand. However, computed value method provided in Sub-Section (8) of Section 25 was not applicable as the requisite information related to the raw material of the exporting countries was not available. In this regard, consequently Fall Back Method under Sub-Section (9) of Section 25 of the Customs Act, 1969 was applied to arrive at the assessable customs values.
Meetings were held with stakeholders before determination of customs valuation of the said good on December 11, 2013 and February 10, 2014 and March 18, 2014.
If declared values are higher than the customs value determined in this ruling, the assessing officers shall apply those values.
The values determined vide this ruling shall be the applicable customs values for assessment of subject imported goods until and unless it is rescinded or revised by the competent authority, a circular said. It added that review petition may be filed against this ruling within 30 days from the date of issuance of this notification.

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