KARACHI: The Directorate General of Customs Valuation has revised the customs values of various brands of energy drinks from different origins vide Valuation Ruling No 1203/2017 under Section 25-A of the Customs Act, 1969.
The Customs Values were determined vide Valuation Ruling No. 922/2016 dated 31.08.2016 and those of code red brand (carbonated energy drink) were circulated vide VDB No.170/2016 dated 24.01.2017. Since the previous valuation ruling was more than one year old, it was deemed expedient to re-determine values of energy drinks in line with the international price trends. Hence, an exercise was initiated by this Directorate General to re-determine the customs values afresh.
A meeting was scheduled on 25-07-2017 with stakeholders and importers of subject goods which was attended by representatives. of clearance Collectorate also. All stakeholders were requested to submit invoices of imports during last three months showing factual value. Websites names and e-mail addresses of known foreign suppliers of the item in question through which the actual current value can be ascertained. Copies of contracts made/LCs opened during the last three months showing the value of item in question. Copies of sales tax invoices issued during last four months showing the differences in price (excluding duty and taxes) to substantiate that the benefit of difference in price is passed on to the local buyers.
The importers / stakeholders contended that market surveys were earlier conducted from high end retail outlets and requested that different markets be consulted for the survey of subject goods. The importers insisted that since the subject goods are mainly being sold at super and general stores, therefore, a lot more expenses (breakage due to shifting from place to place, expiry, self-rent, marketing expenses) etc. are incurred thus increasing their retail price. The view point of all stakeholders was considered before arriving at customs values of energy drinks.
