Valuation determined for silk fabric of Chinese origin up to $17.50per/kg

KARACHI: Pakistan Customs has determined the valuation for silk fabric of Chinese origin up to $17.50 per kilogram on reports of under invoicing which was causing loss of revenue to national kitty, a circular said.
The Directorate General of Customs Valuation on Wednesday issued Valuation Ruling No. 648/2014 for the determination of Customs Values of the said good and for the collection of duty and taxes.
The determined customs values for silk fabric of Chinese origin are included:
1. Textile silk fabric crinkle, $11.50/kg
2. Textile silk fabric crinkle (embroided), $16.10/kg
3. Textile silk fabric tissue, $11/kg
4. Textile silk fabric tissue (embroided), $15.40/kg
5. Textile silk fabric chiffon (plain), $11/kg
6. Textile silk fabric chiffon (embroided), $15.40/kg
7. Textile silk fabric chiffon crinkle, $11.50/kg
8. Textile silk fabric chiffon crinkle (embroided), $16.10/kg
9. Textile silk fabric chiffon printed, $12.50/kg
10. Textile silk fabric chiffon printed (embroided), $17.50/kg
11. Textile silk fabric grip/wrought, $11/kg
12. Textile silk fabric grip/wrought (embroided), $15.40/kg
Meetings with stakeholders were held on November 25, 2013 and March 7, 2014 however, no one attended the meetings. It said that customs values determined according to results of market inquiry in terms of Sub-Section (7) of Section 25 of the Customs Act, 1969.
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vide this ruling shall be the applicable customs values for assessment of subject imported goods until and unless it is rescinded or revised by the competent authority, a circular said.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.
The notification said that the collectors of customs may kindly ensure that the values given in this ruling for the said goods are applied by the concerned staff without fail.
It added that any anomaly observed with respect to PCT may kindly be brought to the notice of Directorate General immediately.

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