Customs issue guideline for Butyl Rubber BKN 1675

KARACHI: The Director General, Pakistan Customs has issued valuation guidelines for the reference of clearance collectorates for development of valuation database, reference values for Butyl Rubber (BKN 1675).

According to a letter issued from the Directorate General of Customs Valuation initiated an exercise to develop database values for different items where-in it has been observed that declarations are wide range and do not correctly reflect values of the items as traded in international market.

During the scrutiny of previous clearance data, it was observed that Butyl Rubber falling under PCT heading 4002.3100 are being assessed at different values and certain transactions are on very low side.

The Directorate General after carefully examining the clearance data, also conducted market inquiries to verify the authenticity of declarations. Online prices were also obtained to corroborate the findings of the market surveys. This office found that  custom values of Butyl Rubber, Russian origin to beat US $ 1.90 per kilogram (C&F Value), the guideline said adding that these values are for reference. Guidance only while final assessment be made after considering other factors having bearing on the custom value.

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