KARACHI: A division bench of High Court of Sindh (SHC) comprising Justice Munib Akhtar and Justice Muhammad Humayun Khan on Wednesday hearing a constitution petition filed by Nisar Food Industries ordered release of the consignment on payment of differential amount of custom duty and other levy.
Ghulam ullah Sheikh advocate appearing for the petitioner company submitted that his client imported a consignment Menthol Crystals which were to be assessed under Valuation Ruling 650 of 2014 however the custom authorities are not following the said ruling and instead assessed the consignment as per their own valuation.
The petitioner’s counsel submitted that the declared value is US $ 17.25 while the respondents are assessing it at enhanced rate under an Order in Revision passed by the DG valuation.
The bench after hearing the arguments by both sides ordered the petitioner to deposit the differential amount (between declared) and assessed value .