KARACHI: Director Customs Valuation, Abdul Rashid Sheikh has determined the custom values of telephone cables vide valuation Ruling No.732/2015.
According to details, DG Customs Valuation had received information regarding under invoicing of the telephone cables. Responding to the information, the customs officials conducted an in-depth market inquiry to substantiate the authenticity of the claim.
It is pertinent to mention that, the participants at the stake holder’s meeting were apprised with the findings of the survey report. During the meeting the importers of the subject goods became exasperated against the working based on the market survey on the ground that telephone networking cable is currently a receding market and cables over 2 pairs move very slow, due to this retailers charge excessive margins on such cables.
In the meeting, the input and feedback of all the stakeholders was taken into account and all the available information regarding the subject matter was analyzed and evaluated by all aspects.
Customs value for telephone cables were determined at $ 2.10, 1.4 and 1.6 per kg for categories A, B and C respectively under PCT Code 8544.4910 and 8544.4990 of China origin.
DG of Customs valuation also directed the assessing officers that in case of consignment imported by air, the officer must take into account the differential between air and sea freight at the time of applying customs value.
Later, Director Customs Valuation directed the Collector of Customs that the values given in the said ruling with respect to the goods description should be applied without any fail and slip-up.