KARACHI: Director General Customs Valuation has rejected the petition filed by M/s M.N Traders and others to revise Valuation Ruling No.639/2014 of canned mushrooms. M/s M.N Traders, Lahore and others had approached the Director General Customs Valuation Surayya Ahmed Butt requesting to revise Valuation Ruling No.639/2014 (canned mushrooms) as per Valuation Ruling No.956/2016 (olives) to the extent of determination of weight of the goods to be assessed on drained weight instead of net weight being similar goods to the Valuation Ruling. Since the salted water is not an edible stuff that is why the salted water is excluded from the weight and goods are considered for customs valuation under Valuation Ruling No.956/2016. The Valuation Ruling No.639/20I4 was issued notifying the Customs value of Canned Mushroom. Factual position as explained by the departmental representative is that the subject goods were being imported at different Customs stations at very low values causing loss of revenue to the government exchequer. The Directorate of Valuation Karachi inve6stigated the market prices and determined the Customs value. Following the sequence in the methods provided under Section 25 ibid, the department conducted a comprehensive and fair market inquiry in pursuance of deductive value method as the goods were available in market being sold in the condition as imported. The price of canned mushrooms on net content basis as obtained from the market, were made the basis of calculation and fair margins of sale at various levels were given. The importers’ stance to reduce this value further by way of charging duty/taxes only on the drained weight of the mushroom is not tenable as the calculations done during the valuation process were on the basis of net content weight. After due process and hearing both sides, Director General Suarraya Ahmed Butt concluded that the department's stance that customs value of canned mushrooms notified vide VR No.639/20I4 was determined on net weight basis is very clear and substantiated by the methodology. Director General held the revision petition not tenable and merits no consideration.