KARACHI: Directorate of Customs Valuation has determined the customs values of cotton waste revised vide Valuation Ruling No.1090/2017.
The Valuation Directorate had earlier conducted an audit of the clearance values and found the same to be on the lower side, in comparison with the international trading and national selling prices. As an immediate remedial measure this Directorate General of Customs Valuation had issued a Valuation Database letter.
Subsequently, representations were received from APTMA for revisiting the VDB value. Furthermore, since a substantial time period had passed since the issuance of the VDB value, an exercise was thus undertaken to determine the Customs Values of subject goods.