KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has revised the customs values of Euro Cake and accordingly amended the Valuation Ruling No.946/2016.
M/s Fair Marketing Pakistan represented by Advocate Muhammad Ran Kamboh challenged the Custom Value determined at S.No.1, 3, 4 and 08 of the Valuation Ruling No.946/2016. They stated that these are confectionery & Bakery items imported from UAE and were expecting decrease in customs values in revised valuation ruling No 946/2016 as international prices of all items particularly of subject items also been decreased. Previous Valuation Ruling No.305/2011 was five years old and required that customs value should considerably been reduced in new ruling but it was astonishingly increased instead of decrease.
They further requested that determination of customs values of baking items were surely required to bring it in line with the prevailing prices in the international market. They added that the subject items are perishable which therefore are sold on discounted prices. They further stated that customs values of Euro Cake were arbitrarily enhanced more than 150 percent.
The Directorate General nominated a departmental representative to conduct market survey impartially to reach at the factual position.
Therefore, the customs values of Euro Cake are hereby revised.