Valuation Ruling No.930/2016 amended

KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has amended the customs values of Abrasive grinding wheel and abrasive grinding cutting disc determined vide Valuation Ruling No.930/2016.

M/s Dhanani Enterprises and others had approached Director General Customs Valuation praying modification in the Valuation Ruling No.930/2016 as the same had been issued without considering the factual position of the case and scrutinizing the import data available.

The petitioners submitted that the method adopted in the Ruling was contrary to the law and provision of Section 25 and against the guidelines given by High court.

It is in admitted fact available on record even in the Customs record that value of subject goods in the international markets have huge decline/downward trend, but the values fixed in Ruling No.930/2016 are on higher side.

The Director General deliberated in details and market survey was again conducted. The goods are used in surgical industry. The survey revealed that the prices in whole sale market is 15-20 percent lower than fixed in Valuation Ruling. The values on Zauba website are much on lower side.

Director General has fixed the customs values of Abrasive grinding wheel under PCT 6804 of China at $1.7/kg and other origins at $1.95/kg. Customs values of Abrasive Grinding cutting Disc under PCT 6804 of China are fixed at $1.36/kg and other origins at $T1.80/kg.

Engropowergen Qadirpur Limited, Tenaga Generasi Limited and Laraib Energy Limited.

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