Customs values of fruit jam revised
KARACHI: The Directorate General of Customs Valuation has determined the customs values of Fruit Jam vide valuation Ruling No.725/2015. According to details, a meeting was held on April 16, 2015, in which importers and representatives of the Collectorate gathered to set off the process for determination of customs value of fruit jam. It is important to mention that during various meetings held with the stakeholders including representatives of importers and clearance Collectorate, in-depth discussions also took place regarding all the issues related to fruit jam along with all its pros and cons. The Customs values of Fruit Jam under PCT Code 2007.1000 is $ 1.20 for Malaysia, UAE and Egypt origin, $2.00 for Europe, USA and Canada origin under PCT Code 2007.9100. Whereas, the value of Fruit Jam under PCT code 2007.9900 for other origin have been determined to $1.30 respectively. DG of Customs valuation has directed that in case of consignments imported by air, the assessing officer must take into account the differential between the airfreight and sea freight while applying customs values. DG of Customs valuation has directed the Collectors of customs to ensure that concerned staff should apply the values given in the Ruling for goods description without any flaw and fail.