Customs values of Indian origin bearings defined

Customs values of Indian origin bearings defined

KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has amended the valuation ruling No.953/2016 and allowed assessment of Indian origin ball bearings and taper roller bearings on the values notified for China origin goods plus 5.0 percent, which comes to $3.675/kg. M/s Sadrudding & Sons approached Director General seeking modification in the Valuation Ruling No. 953/2016. Importer submitted that in past Indian goods were being assessed at $1.85/kg. However, fresh ruling No.953/2016 does not include values for Indian origin bearings and they are being assessed at $6.90/kg, values defined for other origin goods. Chinese origin bearings are assessed at $3.5/kg as per Ruling No.953/2016. After detailed deliberation of the case, Director General Syed Tanveer Ahmed noted that Indian origin ball bearings and tapper roller bearings are allowed to be assessed on the values notified for China origin goods after addition of 5.0 percent of the value of Chinese origin goods as per Ruling 953/2016. Syed Tanveer Ahmed also directed the Directorate of Customs Valuation to add a new serial in the valuation table of Ruling 953/2016 defining values of Indian origin bearings at $3.675/kg.  
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