However, some importers have approached the Directorate and requested revision of certain valuation ruling. Therefore, the Directorate has initiated an exercise for determination of customs value for the subject goods. For the purpose, the stakeholders were requested to furnish the relevant documents before or during the course of the meeting.
The representatives of Pakistan Chemist & Druggists Association and many importers, who attended the meeting, agreed with most of the prices circulated vide valuation ruling as reflective of traded values. However, agitating on few items, some importers claimed that the circulated customs values were on higher side, whereas as per their claim, there was a downward trend in prices in the international market. However, they did not submit any corroboratory document/evidence in support of their contentions, DGCV stated.
Later, valuation methods given in section 25 of the Customs Act, 1969 were followed to arrive at customs value of different types of medical items. Transaction value method provided in section 25 (1) was found inapplicable owing to wide variation in the values being declared to the customs and incomplete descriptions. Identical/similar goods value methods provided in section 25(5) & (6) were examined for applicability to the valuation issue in the instant case which provided some reference values of the subject goods but the same could not be exclusively relied on due to wide variation in declared values of subject goods. Thereafter, market enquiry as envisaged under section 25(7) of the Customs Act, 1969, was conducted. A number of items sold in the local market were obtained and workout through deductive method of valuation. Online prices were also obtained to corroborate the findings of the market surveys.
Computed Value Method as provided in section 25 (8) could not be applied for valuation of the aforementioned goods as the cost of raw material and fabrication charges under clause (a) and amount of profit and general expenses under clause (b) of Section 25 (8) of the Act, in the country of export, could not be ascertained. Later, after evaluating all gathered information, the customs values of different types of medical items have been determined under section 25 (9) of the Customs Act, 1969.
Copyright Business Recorder, 2017