KARACHI: Director Customs Valuation Wasif Memon has revised the customs values of home and office furniture and parts thereof vide Valuation Ruling No.955/2016.
Customs values of home and office furniture and parts were earlier determined vide Valuation Ruling No.855/2016. Pakistan Furniture Importers Association and others filed a review petition before the Director General Customs Valuation, which were disposed of.
Meanwhile, the representations received from Pakistan Furniture Importers Association and Pakistan Children Hardware that the Ruling No.855/2016 was issued without mentioning the material and regarding correction of unit of measurement and H.S Codes.
They submitted that the values may be revised in line with the prices prevailing in the international market. An exercise was conducted to determine the customs values of the goods afresh.
