In a first, Customs Valuation Ruling (VR) has been categorically declared invalid. The IHC accepted the plea of AHR & Co. that a VR has a life of 90 days. An earlier judgment of SHC (Sadia Jabar case) had laid down some broad principles on VRs but with some “if and buts”. Senior Partner AHR & Co. Mr. Adnan Haider Randhawa represented importers of cosmetics who will benefit immensely, but this precedent will harvest huge profits for the whole import sector of Pakistan in future for which abuse of VRs by local manufacturers, in collusion with Customs, had become an insurmountable impediment.
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