Directorate General of Customs Valuation Karachi has revised customs values on the import of lead acid batteries used in vehicles, telephone exchange, Solar Banks and UPS & general purpose from China, Vietnam, Korea, Thailand, Malaysia, Sri Lanka and Taiwan.
According to the valuation ruling issued by the directorate on Thursday, the values of subject goods had not been revised since 2017. Therefore, in pursuance of analysis of import data, current market trends. The difference in market prices and customs values, an exercise for the determination of customs values of subject goods was initiated under Section 25 and 25A of the Customs Act, 1969,
Analysis to determine Customs Values: Meeting for the determination of customs values was scheduled on 17.03.2025 that was attended by the relevant stakeholders. The viewpoint were heard in detail in view for the determination of customs values of the subject goods under Section 25A of the Customs Act, 1969. They were requested to submit relevant import documents to substantiate their contentions. For the determination of customs values of subject goods, ninety (90) days’ data was retrieved and the same was thoroughly scrutinized.
As a result, after adjusting the amounts of profits the C&F value was determined under section 25(7) of the Customs Act. 1969.
The transaction value of the said goods has been determined and specified new customs values for assessment of duty & taxes given against them, FBR added.
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