Customs values of Ring Travelers fixed at $73/kg

KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has fixed the values of textile machinery parts ‘Ring Travelers’ at $73/kg and amended the Valuation Ruling No.959/2016 accordingly.

Muhammad Asif appeared on behalf of M/s Qaiser Brothers stated that they are importing Textile Machinery Parts “Ring Travelers” from Germany. They argued that last Valuation Ruling was $67/Kg but the same has now been revised at $80/Kg which is much higher and is not viable to import at present. The petitioner stated that the said item is one of the main consumable item being used in Textile industry and it is absolutely impossible to increase the price any more. Rather it has to be decreased due to decrease in international prices.

He further contended that Ring Traveler is made of core iron wire and prices of iron have been decreased internationally, so question of increasing the value is not justifiable, therefore, the previous customs values may be decreased from $67 to $60/kg.

Clearance data of AFU and MCC Appraisement (West,  Zauba data was retrieved which relates to Air Cargo and reveals different values of Ring Travelers. Another Chinese website was checked where price per piece in Indian Rupees has been given at Rs.0.50/Pc to Rs.2.00/Pc.

In view of the above facts, clearance data of AFU and other Customs stations, international website prices and analyzing all other information, the customs value of Ring Travelers of German origin is determined at $73/kg.

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