KARACHI: Directorate General of Customs Valuation has determined the values of re-rollable scrap and compressor scrap vide Valuation Ruling No.767/2015.
The customs values of re-rollable scrap and compressor scrap were determined vide Valuation Ruling No.653/2014. The Association of importers filed application for downward revision of values on the plea that the value of re-rollable scrap has declined in the international market.
With a view to reflect the current prices prevailing in the international market, an exercise to determine the values of subject goods was undertaken.
Accordingly, the re-rollable scrap under PCT 7204.4910 of all origins would be assessed to duty and taxes at $440 per metric ton (C&F) while compressor scrap under PCT 7204.4940 of all origins would be assessed to duty and taxes at $620 per metric ton (C&F).