Business Recorder
ISLAMABAD: Directorate General Customs Valuation Karachi has issued new customs values on the import of a wide range of Hand Tools for accurate assessment of duties and taxes from China. According to a new ruling issued by the directorate, the new values would be applicable on the import of Spades and Shovels, Forks, Axes, Bill Hooks and similar hewing tools and other Hand Tools of a kind used in Agriculture, Horticulture or Forestry, Plier, Hand Operated Spanners, Hand Operated Wrenches/Allen, Keys/ Socket Sets, Hammer with Iron Steel Mallet and Hammer with Rubber Mallet. READ ALSO: New values of PVC, PU & other coated fabric fixed Previously, the customs values of hand tools were determined under Valuation Ruling No.1200/2017 dated 09.08.2017. However, the said valuation ruling is now more than nine years old, and international market prices of the subject goods have increased during this period. Moreover, a representation from MA Tools and Equipment House (Pvt) Ltd has been received in this office requesting revision of the customs values of hand tools, as international prices of hand tools have increased significantly over the past nine years. Therefore, a preliminary analysis of import data, including declared values, assessed values, and prevailing market prices, was conducted to re-determine the customs values of the subject goods under Section 25A of the Customs Act, 1969. Meeting for determination of customs values was held on the aforementioned date, which was attended by the relevant stakeholders. Copyright Business Recorder, 2026
Go to News Site