KARACHI: The Directorate General of Customs Valuation has rejected the revision petition filed against the Customs values of ‘floral foam bricks’ determined vide Valuation Ruling No. 745/2015.
According to details, M/s Mian Ishaque Nursery had approached the Directorate General praying that the impugned Valuation Ruling should be set aside and values should be determined afresh.
The importer/petitioner submitted that the Valuation Ruling was issued and the value of Floral Foam was unlawfully determined in ignorance of the import data available.
Moreover, the issuing authority ignored the import data over the past 90 days, which suggests the value of Floral Foam is around $1.52/KG, however, the minimum value affixed by the Ruling is $5.50/MT.
The departmental representative furnished international market prices gathered from website (Oasis foam) at $7.00/kg. The department also presented worked out prices from local market enquiry by work back value method at $5.50/kg.
The department was of the view that all the facts were taken into account before issuance of Valuation Ruling 745/2015 including clearance data which reveals ascertained value from $1.52/kg to $4.50/kg.
After detailed deliberation and hearing both the parties, Director General Sameera Nazir Khan noted the importer/petitioner failed to defend his case by providing any concrete evidence in support of his contention. Hence, the review petition is rejected.