KARACHI: In order to eliminate abuse of legal procedures and subsequent revenue leakage, Chief collector Appraisement South has clarified the validity of Valuation Ruling.
Customs Rules 2001 have been amended vide SRO 564(I)/2017 whereby the Valuation Ruling issued will remain valid unless rescinded, modified or substituted with a new ruling.
As such mere filing of request for revision of an existing Ruling or an application of review will not entitle the applicant/importer for provisional assessment. The assessment in such cases will be made in accordance with the prevailing Ruling till the same is rescinded, modified or replaced.
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