Customs values of ETP and TFS determined
KARACHI: The Directorate General of Customs Valuation has determined the customs values of Electrolyte Tin Plate (ETP) and Tin Free Sheet (TFS) vide Valuation Ruling No. 756/2015. The Customs values ETP and TFS were determined vide Valuation Ruling No.467/2012. Lately certain importers have been contesting that the values of these items have declined in the international market and had requested to re-determine customs values. In a petition, High Court ordered that the valuation ruling no.467/2012 was three year old and the issue should be resolved. With a view to reflect the current prices prevailing in the international market, an exercise was under taken. Accordingly, Electrolyte Tin Plate (ETP) of prime quality under PCT 7210.1290 would be assessed to duty and taxes at $0.90 per kg while that of secondary quality under PCT 7210.1210 would be assessed at $0.765 per kg. Tin Free Sheet (TFS) of prime quality under PCT 7210.5090 would be assessed to duty and taxes at $0.95 per kg while that of secondary quality under PCT 7210.5010 would be assessed at $0.807 per kg.