KARACHI: Directorate of Customs Valuation has determined the customs values of stainless steel pipes/fittings (welded and seamless) vide Valuation Ruling No.1155/2017.
At the moment there is no Valuation ruling of subject items in-field. The Customs clearance data revealed that stainless steel pipes (welded and seamless) were being declared at low values when compared to local and international selling prices. Furthermore, a representation was received from MCC Appraisement (West) whereby proposed formulas for deriving at values of subject goods where shared with this Directorate General.
The Collectorate had constituted a specialized departmental committee to examined various aspects affecting the value of subject goods and the same were considered while determination of value.
Directorate General Valuation examined the matter thoroughly in the light of above proposals, PRAL data, LMB prices, local market survey as well as information form online international sources and consultation with stakeholders for determining the subject values to ensure uniform assessment of subject goods across the country.
