KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has increased the customs valuation of water dispensers, which were determined vide Valuation Ruling No. 910/2016.
The Valuation Ruling has been amended and customs values of water dispenser (hot & cold) with mini refrigerator of China under PCT 8418.6990 are fixed at $70/pc compared with $60/pc earlier.
Customs values of water dispenser (hot & cold) without mini refrigerator of China under PCT 8418.6990 are fixed at $62/pc compared with $52/pc earlier.
M/s Midas International had approached the Directorate General praying that by accepting this revision petition, the impugned valuation ruling 910/2016 may very kindly be set aside and the respondent may kindly be directed to call for the meetings of all the stake-holders including the petitioner and fix the prices of the goods in question strictly in accordance with provisions contained in the Customs Act, 1969.
The petitioner added while determining the value under the impugned valuation ruling, the department never invited to participate the importers based at Lahore and the value was determined only on the asking of M/s Fluid Technology which is based at Karachi.
Director General observed the record shows that the market inquiry reveals prices of dispenser & refrigerator between Rs.14000-17500, whereas the prices of dispenser range between Rs.11000 to 14000. The work back sheet shows that margin of 15 percent was given to retailer instead of routine 10 percent margin done in all calculations.
After detailed deliberation, the Director General re-fixed the customs values of water dispensers.