Directorate General of Customs Valuation Karachi has revised customs values on the import of LED Bulb Parts and LED Light Parts from China.
The new ruling has been issued to determine the revised values of the said items. This ruling has superseded Valuation Ruling No. 1754/2023 dated 20 March 2023.
The customs values of LED Bulb Parts and LED Light Parts have been revised including Shell Cover/Housing for LED Bulb; lenses for LED Bulb; Bare Metal Clad Printed Circuit Board for LED Bulb; Stuffed Metalclad Printed Circuit Board for LED Bulb; Constant Current Power Supply / Driver for LED Bulb; Base caps for LED Bulb; Shell Cover / Housing for LED Lights; lenses for LED Lights; Bare Metal Clad Printed Circuit Board for LED Light; stuffed Metal clad Printed Circuit Board for LED Lights; Driver-on- Board (DOB) for LED Lights and Constant Current Power Supply / Driver for LED Lights.
Background of the valuation issue revealed that customs values of LED Bulb Parts were determined and notified vide Valuation Ruling of March 20, 2024. It was observed that the Valuation Ruling is more than one-year-old and, in the meantime, cost of input materials, freight & technology etc has considerably changed; therefore, an exercise has been undertaken by the Directorate to determine the same.
Meetings were convened which were attended by all the relevant stakeholders. The issues pertaining to the valuation of subject goods were deliberated upon in detail in the afore-referred meetings.
The stakeholders requested that prices of parts for LED Bulb and LED Lights should be revised as per current market prices. In order to analyze the matter empirically, 90 days of data have been retrieved and scrutinized. Subsequently, a market inquiry has been conducted and examined.
For further (comparative) analysis, “QY Research database” was also consulted. It has published over 2 million industry reports and relies/ consults 300 databases, containing inter alia prices of the large varieties of the products. QY Research Report on Global LED Bulb Parts and LED Light Parts provided supplier-wise values/information of subject goods. These suppliers are exporting LED Bulb and Light Parts to Pakistan as per PRAL data. The subject report indicated variation in prices of LED Bulb and Light Parts since the issuance of the previous VR.
The values of Customs Values of LED Bulb Parts and LED Light Parts have been determined in terms of sub-section l, read with Section 2 of Section 25, and the proviso to Section 25(A) of the Customs Act,1969.
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Rather than reproducing something circulated by the government, please write something that can be understood by the consumers. The fundamental question here is if the price of LED bulbs will rise or fall and to what extent.