KARACHI: The Directorate General of the Customs Valuation has determined the customs values of of skimmed milk powder, instant milk powder vide Valuation Ruling No 780/2015.
The practice to determine the values of skimmed milk powder and instant milk powder were done under Section 25(A) of the Customs Act, 1969.
According to details, Valuation Ruling No 708/2015 was issued on 23-01-2015 by revising the values of skimmed milk downwardly as notified earlier vide Valuation Ruling 696/2014 dated 01-10-2014.
The importers through Karachi Chamber of Commerce and Industries have been requesting since August 2015 for further downward revision of value on the plea that international market of the goods in question have further gone down.
The KCCI forwarded some invoices as well as internet websites for checking the prices in international markets. On issue of sales tax invoices, they stated that since the milk is exempt from sales tax therefore they were not in a position to furnish the same. In view of the said situation, they were requested to furnish the import invoices along with bills showing the prices on which they were selling milk in the market. Since they were not forthcoming to furnish the bills, and issue was lingering on, it was decided to hold a meeting with them and it was scheduled on 9-12-2015 requesting each importer to bring the aforementioned documents along with him and furnish the same at the time of the meeting.
Henceforth, skimmed milk powder (in bulk packing) to be imported form New Zealand, Australia, West, Europe, Canada and USA would be assessed to duty and taxes at $ 2.60/kg, while from Iran at $ 2.00/kg, and other origins $ 2.50/kg.
While skimmed milk powder (in retail packing upto 5kgs/pack) to be imported from Iran would be assessed to duty and taxes at $ 2.25/kg, and of all origins at $ 2.75/kg.
Instant milk powder with vegetable fat (in bulk packing) of all origins would be assessed to duty and taxes at $ 1.80/kg and instant milk powder with vegetable fat (In Retail Packing upto 5kgs/pack) of all origins at $ 2.05/kg.
