Customs Valuation issues five valuation guidelines

KARACHI: Directorate General of Customs Valuation has circulated five valuation guidelines for the notice of all formations about the prevailing international price trend of several importable goods, while five such guidelines will come up every week.

Directorate General Customs Valuation Syed Tanveer Ahmed has tasked Directorate of Customs Valuation to issue five guidelines every week. Since, it takes a lot of research and verifications, the weekly off on Saturdays of the directorate is also suspended. The team issuing guidelines compriseAdditional Collector Imran Sajjad Bukhari and Deputy Collector Rizwan Bashir along with four appraising officers Farhan Mehdi,  Noor alam Durrani, Aurung Ali Shah and Raja Mohammad Aslam.

Directorate of Customs Valuation has notified the reference values of steel concrete spiral nails of China origin are $1.47/kg.

As per internationally acclaimed journal ‘Public Ledger’ the values of big cardamom as of July 22, 2016 vary from $8.0/kg to $10.28/kg for different origins. As per internationally acclaimed journal ‘Public Ledger’ the values of Mace as of July 22, 2016 vary from $11.4/kg to $12/kg for different origins.

Similarly, the prevailing prices of school bags without trolley size 12-inch of China are $1.55/Pc. The reference values of school bags with trolley size 12-inch of China are 2.21/pc. The prevailing prices of school bags without trolley size 14-inch of China are $2.21/Pc. The reference values of school bags with trolley size 14-inch of China are 3.1/pc. The prevailing prices of school bags without trolley size 16-inch of China are $3.36/Pc. The reference values of school bags with trolley size 16-inch of China are 5.31/pc. The prevailing prices of school bags without trolley size 18-inch of China are $4.43/Pc. The reference values of school bags with trolley size 18-inch of China are 52.75/pc. The prevailing prices of school bags without trolley size 20-inch of China are $5.75/Pc. The reference values of school bags with trolley size 20-inch of China are 6.64/pc. The prevailing prices of school bags without trolley size 22-inch of China are $6.99/Pc. The reference values of school bags with trolley size 22-inch of China are 9.30/pc.

Chairman Nisar Mohammad Khan has advised all the collectorates and directorates to keep strict monitoring of the transactional values of imported goods and their proper assessment in order to ensure that government revenue is not lost through under-invoicing.

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