Reference values of glass balls notified

Reference values of glass balls notified

KARACHI: Directorate General of Customs Valuation has notified valuation guidelines of glass balls assorted design and color for the reference of assessment staff. Directorate General of Customs Valuation is actively pursuing ‘Tanveer Plan’ and the development of database values and issuance of reference values of importable items have started yielding results. Director General Customs Valuation Syed Tanveer Ahmed devised a plan to streamline values of importable values to check under-invoicing, which is not only causing revenue loss to the exchequer, but it also has deprived the local manufacturing of level playing field. Directorate General of Customs Valuation has initiated an exercise to develop database values for different items wherein it has been observed that declarations are wide range and do not correctly reflect values of the items as traded in the international market. The reference values of glass balls assorted design and color under PCT 7002.1000 of China are fixed at $0.47/kg.
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