Director General modifies customs values of metallic yarn

KARACHI: Director General Customs Valuation Syed Tanveer Ahmed has revised the customs values of metallic yarn of Dubai origin at $4.05/kg and Japan origin at $7.0/kg and amended the Valuation Ruling 964/2016 accordingly.

M/s Bright Industries had approached the Director General submitting that the value of aluminum metalized metallic yarn M-Type had been fixed at $4.0/kg for China/India origin and $7.0/kg for other origins. The raw material used for production of the items of all origins are the same.

The Departmental representatives submitted several copies of GDs/invoices of import of Japan origin goods indicating values from $7/kg to $9/kg. They further stated that 90% of goods are imported from China, 8% from India and only 2% from other origins which includes Japan, Denmark, UK, Korea,Belgium and Germany.

Although the import quantity ranging from 200 kg to 1000 kg but their values are on higher side. Furthermore, the values determined in the existing Valuation Ruling are on the higher side than suggested by the representative of local industries. The issue of M/s Bright industries only pertains to import from Dubai and they suggested that their values should be at par with the values of China/India.

After detailed deliberation, Syed Tanveer Ahmed revised the customs values of metallic yarn of Dubai origin at $4.05/kg and Japan origin at $7.0/kg and amended the Valuation Ruling 964/2016 accordingly.

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