KARACHI: Pakistan Customs has revised the valuation of Chinese origin alternators up to $26 per kilowatt for the collection of duty and taxes on import of such item.
The Directorate General of Customs Valuation on Tuesday revised the valuation of air condition synchronous alternators on detection that the imported goods were being cleared at under invoiced values which was causing loss of revenue to government exchequer.
According to the new valuation:
Air condition (AC) synchronous alternators of 3 to 5 KW, $26
AC synchronous alternators of 6 to 7.5 KW, $19
AC synchronous alternators of 8 to 12 KW, $15
AC synchronous alternators of 13 to 20 KW, $13
AC synchronous alternators of 21 to 25 KW, $12
AC synchronous alternators of 26 to 40 KW, $11
AC synchronous alternators of 41 to 80 KW, $9
Air condition synchronous alternators of 81 KW and above will be assessed at $7/KW
It is mentioned that assessing officer shall ensure that no alternator shall be assessed at value than $1.75/KG.
The DG Valuation applied all the available methods for the determination of alternators and found market inquiry more appropriate.
Meetings were held with stakeholders including representatives of Karachi Chambers of Commerce and Industry (KCCI), Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and with importers on December 26, 2013, January 3, 2014 and April 10, 2014 for the determination of customs values of the said good.
In case if consignment imported by air, the assessing officer shall take into account the differential between air freight and sea freight while applying the customs values determined in the ruling.
In case if transactional values are higher than the customs value determined in the ruling, the assessing officers shall apply those values in terms of Sub-Section (1) of Section 25 of the Customs Act, 1969.
A review petition may be filed against the ruling within 30 days from the date of issuance, a notification said.
It said that the collector of customs may kindly ensure that the values given in the ruling for the given description of goods are applied by the concerned staff without fail. Any anomaly observed with respect to PCT may kindly be brought to the notice of the directorate general immediately.