KARACHI: Director Customs Valuation Manzoor Hussain Memon has revised the customs values of Polyester Suiting Fabric vide Valuation Ruling No.784/2015.
The Valuation Ruling No. 770/2015 of Polyester Suiting Fabric was issued, subsequently various importers applied for revision of the Valuation Ruling before the Director General on the grounds that the value of Pile Fabrics fixed by the Directorate General was on very higher side therefore needs immediate downward revision since this fabric is being used by the poor segment of the population in the upcountry.
Besides a reference was received from the office of the Chief Collector of Custom (North) enclosed with a market enquiry by the MCC. Islamabad and recommending therein downward revision of the value of pile fabric for being a low value item.
During the review proceedings a reference was also received from MCC Appraisement (East) Karachi in which the Collectorate viewed that the value of Indian origin fabric be revised upward as the same is being imported from India by under invoicing the value thereby depriving the government from its legitimate revenue.
In view of the aforementioned reasons, the Reviewing Authority passed the Order-In-Revision in which the value of Pile Fabric was revised downward, the values of Polyester fabrics of all other kinds determined vide afore mentioned ruling have been maintained and the aspect of value of fabric of Indian and UAE origin has been remanded back to this Directorate for de-novo consideration.
Accordingly, polyester ladies shirting/suiting fabric of Indonesia, Thailand, Malaysia, Vietnam, UAE, Korea is assessed to duty and taxes at $5.5 per KG, while goods of Europe, USA and Canada origin will be assessed to duty and taxes at $6.0 per kg, goods of China to be assessed at $5.0 per kg. Goods of UAE and India would be assessed at $7.0/KG.
Polyester gents shirting/suiting fabric of Indonesia, Thailand, Malaysia, Vietnam, UAE, Korea is assessed to duty and taxes at $5.5 per KG, while goods of Europe, USA and Canada origin will be assessed to duty and taxes at $6.0 per kg, goods of China to be assessed at $5.0 per kg. Goods of UAE and India would be assessed at $7.0/KG.
Polyester ladies net fabric of Indonesia, Thailand, Malaysia, Vietnam, Korea is assessed to duty and taxes at $5.5 per KG, while goods of Europe, USA and Canada origin will be assessed to duty and taxes at $6.0 per kg, goods of China to be assessed at $5.0 per kg. Goods of UAE and India would be assessed at $7.0/KG.
Polyester ladies shirting/suiting fabric (chenille, velvet), polyester pile fabric (knitted/narrow knitted) of Indonesia, Thailand, Malaysia, Vietnam, Korea is assessed to duty and taxes at $5.5 per KG, while goods of Europe, USA and Canada origin will be assessed to duty and taxes at $6.0 per kg, goods of China to be assessed at $5.0 per kg. Goods of UAE and India would be assessed at $7.0/KG.
Polyester pile fabric (knitted/narrow knitted) of Indonesia, Thailand, Malaysia, Vietnam, Korea is assessed to duty and taxes at $5.5 per KG, while goods of Europe, USA and Canada origin will be assessed to duty and taxes at $7.0 per kg, goods of China to be assessed at $3.75 per kg. Goods of UAE and India would be assessed at $.0/KG.
Polyester fabric (Georgette Chiffon 20-27 meters per kg) of Indonesia, Thailand, Malaysia, Vietnam, Korea is assessed to duty and taxes at $7.0 per KG, while goods of Europe, USA and Canada origin will be assessed to duty and taxes at $7.0 per kg, goods of China to be assessed at $7.0 per kg. Goods of UAE and India would be assessed at $8.0/KG.