KARACHI: The MCC Appraisement West has passed an assessment order declaring the customs values of Iron Wire rope at $1.3 per KG as appropriate within four corners of law.

According to the details of the case, M/s Lucky Corporation imported a consignment of iron wire rope from China and sought clearance under PCT 7312.1020 at assessable vale of 0.80 per KG.

In the light of Customs data base value of identical/similar imports it was found that the imported had imported the goods at grossly suppressed values.

The importer also failed to provide the detailed particulars regarding the way their transaction was completed. Hence, there was no question to accept the declared values.

It may be mentioned here that customs value iron wire rope could also not be determined as group-under-invoicing was being managed by importers of the subject goods.

The declared value of the imported goods was even lower than the price of its raw material.

Customs after a detailed process made the assessment at $1.3 per KG. Subsequently instead of paying duty and taxes, the importer approached Sindh High Court praying that the declared values be accepted as Customs values.

The Court ordered to make the assessment after providing an opportunity of being heard to the importers. A date was fixed but no one from the importer’s side appeared.

However, a letter was received from M/s Lucky Corporation that he was willing to accept the assessment and pay the additional duty and requested release of the consignment.


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