KARACHI: Directorate of Customs Valuation Karachi has revised the customs values of high tensile nuts, bolts, washers vide Valuation Ruling No. 949/2016.
The customs values of high tensile nuts, bolts, washers were earlier determined vide Valuation Ruling No. 517/2012. Since the determined values were over three years old, it needed revision according to trends prevailing in the international market.
Director Wasif Memon formed a team comprising Additional Director Mumtaz Khoso, Deputy Director Abdul Qudoos and Principal Appraiser Mohammad Ashfaq to determine the values of the goods afresh.
Earlier there was only single value for all kinds of high tensile nuts, bolts and washers of China origin only. The new ruling has categorized the values under PCT 7318.
The customs values of galvanized high tensile nuts, bolts, washers ZX/LJ (upto 10mm thick) of China are $1.3/kg, of Taiwan are $1.43/kg and all other origins are $1.56/kg.
The customs values of galvanized high tensile nuts, bolts, washers ZX/LJ (above 10mm thick) of China are $1.2/kg, of Taiwan are $1.32/kg and all other origins are $1.44/kg.
The customs values of non-galvanized high tensile nuts, bolts, washers ZX/LJ (upto 10mm thick) of China are $1.06/kg, of Taiwan are $1.16/kg and all other origins are $1.27/kg.
The customs values of non-galvanized high tensile nuts, bolts, washers ZX/LJ (above 10mm thick) of China are $1.0/kg, of Taiwan are $1.1/kg and all other origins are $1.2/kg.