KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has rejected the petition of M/s Bicycle & Bicycle Spare Parts Importers Association seeking revision in the customs values of bicycle spare parts determined vide Valuation Ruling No.890/2016.

The association submitted the impugned Valuation Ruling is unwarranted by facts and law of the case, and non-speaking that how the basis of value determined have been derived amongst the seven different methods of valuation, set out in Customs Act, 1969.

The association added Valuation Ruling No.890/2016 was been framed arbitrarily and in absence of proper and sufficient opportunity of rebuttal to the applicant association, hence, derived misconceived values and determination accordingly.

M/s Bicycle & Bicycle Spare Parts Importers Association  suggested the impugned Valuation Ruling is nothing but arbitrary attempt and deception with the facts and laws of the case, which is in clear disregard to the mandate of section 25, 25-A of the Customs Act, 1969 as well as enunciated principles of law under the mandate of Article 189, 201 and 10-A of the Constitution of Islamic Republic of Pakistan.

The department submitted that while determining the customs values of Bicycle Parts of China origin, all the stakeholders including the association were called for meeting for discussion. Association and other stakeholders did not submit relevant import documents at the original stage and simply on presumption claimed the value of Bicycle parts of China origin on decreasing side filed revision petition.

Director General Syed Tanveer Ahmed noted customs values have been determined after following the valuation methods. The association has not submitted any tangible documents to justify their claim as per law. The values have been fixed after thorough market inquiry. Therefore, the consignments are liable to be assessed as per the determined s values.