KARACHI: Directorate General of Customs valuation has revised the customs values of Lead Acid Batteries vide valuation ruling No.723 / 2015.
According to details, numerous representations from local manufacturer and importers received in the Directorate that subject item was being imported at under invoiced values causing loss of revenue to Government exchequer.
To revise the values keeping in view trends in the international market an exercise was initiated for redetermination of customs values for Lead Acid Batteries being imported from different origins.
Lead Acid Batteries of different origins would be assessed for duty and taxes at the following rates per kg:
The customs values of Lead Acid Battery for Automotive of China, Vietnam, Sri Lanka and Taiwan Origin would be $1.90; lead Acid Battery for Automotive of Korea & Thailand Origin at $2.09; lead Acid VRLA Battery of China, Vietnam, Sri Lanka and Taiwan Origin at $1.89; lead Acid VRLA Battery of Korea & Thailand Origin at $2.08; lead Acid OPZ Battery of China, Vietnam, Sri Lanka and Taiwan Origin at $3.45; lead Acid OPZ Battery of Korea & Thailand Origin at $3.95; lead Acid Battery for UPS & Generator purpose of China, Vietnam, Sri Lanka and Taiwan Origin at $1.72 and lead Acid Battery for UPS & Generator purpose of Korea & Thailand Origin at $1.89.