KARACHI: The Directorate General of Customs Valuation has revised the customs value of Printing Inks and Digital Printing Inkjet Inks through Valuation Ruling No 1237/2017 under Section 25A of the Customs Act, 1969.
Earlier the customs values of the Digital Printing Inkjet Inks And Printing Inks were determined vide Valuation Ruling No. 403/2011 dated 29-11-2011 and Valuation Ruling No. 854/2016 dated 17-05-2016 read with Order-in-Revision No. 232/2016 dated 16-08-2016.
It has been brought to the notice of this Directorate General of Customs Valuation that the Valuation Ruling No. 854/2016 dated 17.05.2016 read with Order-in-Revision No.232/2016 dated 16.08.2016 for printing ink is being applied on the clearance of Digital Printing Inkjet Inks whereas there is a specific Valuation Ruling bearing No. 403/2011 dated 29.11.2011 for Digital Printing Inkjet Inks.
Moreover, the Valuation Ruling of Digital Printing Inkjet Inks is very old and needs to be revised in accordance with the trend of values in the international markets, besides printing inks values in the international market have also appreciated. Keeping in view the prevailing prices of the subject goods, this Directorate General initiated an exercise for the determination of the Customs Values of the Digital Printing Inkjet Inks and Printing Inks in terms of Section 25-A of the Customs Act, 1969.
Stakeholders’ participation in determination of Customs values: Meeting with stakeholders including importers, local manufacturers and representatives from field formations was held on 06.12.2017, to discuss the current international prices of Digital Printing Inkjet Inks and Printing Inks.
The participants stated that Digital Printing Inkjet Inks are costlier than the Printing Ink and apprehended that some unscrupulous importers clear their consignments of Digital Printing Inkjet Inks as per the Valuation Ruling No 854/2016 dated 17.5.2016 read with order-in-Revision No 232/2016 dated 16.8.2016 which is for Printing Ink, whereas there is a speci7c Valuation Ruling No 403/2011 dated 29.11.2011 for Digital Printing Ink.
