Import values of rubber stopper revised

ISLAMABAD: Directorate General of Customs Valuation, Karachi has revised customs values on the import of Rubber Stopper for accurate assessment of duties and taxes at the import stage. According to a new valuation ruling, the Directorate General of Customs Valuation, Karachi, has observed that the subject items were assessed at lower values. In order to ensure consistency and safeguard government revenue, the Directorate has decided to determine the customs values of the subject goods. Accordingly, an exercise has been initiated for determination of customs values of subject items under Section 25A of the Customs Act, 1969. Meeting notices have been issued to all relevant stakeholders inviting their participation and submission of documentary evidence to facilitate a fair and transparent determination of customs values of the subject goods. During the meeting, the importer contended that their declared transaction values are genuine and consistent with recent import trends and do not indicate any element of under invoicing. They further requested that the Directorate also conduct a market survey. In support of their claim, they submitted relevant documents i. e. retail sales invoices, contract etc. The local manufacturers has contended that rubber stoppers were imported on lower declared value and they have taken the initiative to save the precious foreign exchange and also meet the local demand, therefore, the Directorate determine the fair customs values to save government exchequer. Keeping in view the documents submitted by the importer, the import data of the preceding ninety (90) days, along with information obtained from local price sources, was thoroughly scrutinized. The provided documents has been examined and analyzed. This examination was taken into consideration to ensure an appropriate comparison of values and to maintain uniformity in assessment while determining the customs values of the subject goods, the directorate added. Copyright Business Recorder, 2026

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