Section 25A of Customs Act, 1969 has explained Collector of Customs empowered to determine customs valuation.
The Federal Board of Revenue (FBR) issued updated Customs Act, 1969 up to June 30, 2021. The act has been updated by making amendments brought through Finance Act, 2021.
Following is the text of section 25A and 25AA of the Customs Act, 1969:
25A. Power to determine the customs value.- (1) Notwithstanding the provisions contained in section 25, the Collector of Customs on his own motion or the Director of Customs Valuation on his own motion or on a reference made to him by any person or an officer of Customs, may determine the customs value of any goods or category of goods imported into or exported out of Pakistan, after following the methods laid down in section 25, whichever is applicable:
Provided that notwithstanding anything contained in any provision of this Act and any decision or judgment of any forum, authority or court, while determining the customs value under this section, the Director may incorporate values from internationally acclaimed publications, periodicals, bulletins or official websites of manufacturers of indenters of such goods.
(2) The Customs value determined under sub-section (1) shall be the applicable customs value for assessment of the relevant imported or exported goods:
Provided that where the value declared in a goods declaration, filed under section 79 or section 131 or mentioned in the invoice retrieved from the consignment, as the case may be, is higher than the value determined under sub-section (1), such higher value shall be the customs value.
(2A) In case of any conflict in the customs value determined under sub-section (1), the Director General of Valuation shall determine the applicable customs value.
(4) The customs value determined under sub-section (1), or the case may be under sub-section (2A), shall be applicable until and unless revised or rescinded by the competent authority.
Section 25AA has described power to use data exchange information for determination of customs value.
25AA. Power to use data exchange information for determination of customs value.- Any information or data, available under clause (b) of sub-section (1) of section 219A, may be utilized for the purpose of assessment including valuation.
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