Petition seeking revision in values of valves rejected

Petition seeking revision in values of valves rejected

KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has rejected a petition seeking revision in the customs values of Valves determined vide Valuation Ruling No.907/2016. M/s Hameed & Yaser International submitted that valuation ruling had been determined on very higher side which is arbitrary and unjustified because the calculation of material cost used in the product has not been taken into account at the time of determination of customs values. The Valuation Department asked the petitioner to submit import documents to substantiate their point of view against the determined customs values. But the applicant did not submit any material evidence in support of their claim nor attended any meeting to justify their contention. In view of the above, the revision petition was rejected.
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