KARACHI: Directorate of Customs Valuation has revised the customs values of low-end brand ladies under garments of poly cotton blend vide Valuation Ruling No.1122/2017.
Valuation Directorate had earlier conducted an audit of clearance values of subject goods and found the same to be on the lower side, in comparison with the international trading and national selling prices. In the previous 90 days data, majority of the under reference imported goods from China were being cleared at rates ranging from $0.0173/Kg to around $4.00/Kg (but generally without declaring whether in bales or in individual retail packing mode).
As an immediate remedial measure this Directorate General of Customs Valuation had issued a Valuation Database Value based on market surveys of retail packed subject goods as available in marketplace.
Subsequently, numbers of importers filed representations for revisiting the VDB value as they claimed that the values are on higher side, compared to actual purchase prices. The importers insisted that the market survey conducted was from retail outlets and therefore must be done afresh from wholesale markets.