KARACHI: The Directorate General of Customs Valuation has fixed the values of Cotton Fabrics vide Valuation Ruling No. 764/2015.
A valuation Ruling regarding cotton fabric was issued vide Valuation Ruling No.449/2012. Clearance Colletorates contested that said ruling needs revision being on lower side. MCC, Appraisement (East), Karachi and MCC, Appraisement (West), Karachi pointed out that fabric values determined by the Directorate needs upward revision keeping the international prices of the subject goods.
Moreover, FBR also directed to examine the issue of valuation of Fabric in consultation with stakeholders.
The values of cotton fabric of different origins under HS Code 52 and would be assessed to duty and taxes as under:
Cotton fabric (printed/plain) of China, UAE, Bangladesh and Turkey at $4.5/kg, of India at $4.4/kg, of Indonesia, Malaysia, Thailand, Vietnam and Korea at $4.6/kg and of Europe, USA and Canada at $5.1/kg.
Cotton fabric blended (printed/plain) of China, UAE, Bangladesh and Turkey at $4.75/kg, of India at $4.65/kg, of Indonesia, Malaysia, Thailand, Vietnam and Korea at $4.85/kg and of Europe, USA and Canada at $5.5/kg.
Other cotton fabric (printed/plain) of China, UAE, Bangladesh and Turkey at $4.5/kg, of India at $4.4/kg, of Indonesia, Malaysia, Thailand, Vietnam and Korea at $4.6/kg and of Europe, USA and Canada at $5.1/kg.