Valuation revised for Chinese origin malleable iron pipe fittings

KARACHI: Pakistan Customs has determined the customs values of Chinese origin malleable iron pipe fittings up to 0.96 per kg for the collection of duty and tax.
On Tuesday, Directorate General of Customs Valuation has issued fresh valuation ruling No. 682/2014 for the said good in order to reflect the current prices with the international market.
The customs values for malleable iron pipe fittings of Chinese origin are included:
Malleable iron pipe fittings with grooves below 4 inches size will be assessed at $0.69 per kg
Malleable iron pipe fittings without grooves below 4 inches size will be assessed at $0.56 per kg
Malleable iron pipe fittings with grooves above 4 inches size will be assessed at $0.96 per kg
Malleable iron pipe fittings without grooves above 4 inches size will be assessed at $0.76 per kg
For determining customs values, meetings were held with the stakeholders, representatives of Karachi Chambers of Commerce and Industry (KCCI) and officers of Model Customs Collectorate (MCC) Appraisement-East/West, Karachi on June 16, 2014 and August 28, 2014.
According to valuation ruling, market enquiry was conducted under deductive value method for determining the customs values of malleable iron pipe fittings.
As per notification, in case of consignments 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 this ruling.
A review petition may be filed against this ruling within 30 days from the date of issue, before the Director General, Directorate General of Customs Valuation.
The Customs Collectors 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 directorate of general immediately.

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