Directorate General of Customs Valuation Karachi has taken steps to control under-invoicing on the import of 'Submersible Motors' from China, Europe, and other origins. The Directorate has issued a new valuation ruling number (1869 of 2024). The new customs values have been fixed on the import of different types of 'Submersible Motors' of Stainless Steel and Cast Iron. According to the ruling, the customs values of 'Submersible Motors' were determined in 2016. A representation was received in the directorate to initiate the process of issuance of a new valuation ruling on the import of 'Submersible Motors', as the last ruling was six years old and there is under-invoicing on the import of this item. Moreover, the importer requested to include per Kg criteria to circumvent under-invoicing of the subject good. The representative of the Collectorate of Customs (Appraisement) Karachi also submitted a copy of the FIR in which the importer tried to evade duties and taxes by misdeclaration of specifications of t he imported goods and pasting forged labels on the said imported goods. Therefore, an exercise has been undertaken by the Directorate to determine the same. The valuation methods specified in section 25 of the Customs Act are duly considered in sequential order to arrive at the Customs values of subject goods. The transaction value method as provided was found inapplicable. Therefore, the identical goods value method provided in Section 25(5) was examined for applicability to determine the customs values of subject goods. However, it was found that the same could not be solely relied upon due to the absence of demonstrable evidence of quantities and qualities. Information available was hence found incomplete. Subsequently, a similar goods value method was also examined for the applicability to determining customs values of subject goods. The import data of Submersible Motors for the last 90 days was examined. However, Declared Values (DV) of both identical and similar goods showed consistent variations. This method was also found inapplicable. A market inquiry was also conducted but could only yield results to some extent because of variations in market prices. Source: Pro Pakistani