KARACHI: The Directorate General of the Customs Valuation has revised customs values of food supplements (drinking powder) vide Valuation Ruling 792/2015.
According to details, it was brought to the notice of the Directorate General by field formations that food supplements were being imported at under-invoiced values, causing loss to the national kitty. This prompted an exercise to determine the fair customs values for imported food supplements. After detailed investigation, the Directorate General determined the Customs values and issued Valuation Ruling No. 640/2014.
However, an importer filed a revision petition before the Directorate General of Customs Valuation against the ruling of Ovaltine. Accordingly values were revised on the basis of different packing and corrigendum issued on 23-07-2014 on downward trend. However M/s. Muhammad Junaid Muhammad filed an appeal before Customs Appellate Tribunal Bench-III the against Revision Order No. 63/2014. Tribunal Bench-III directed the Directorate General to look into the values.
Accordingly, the Customs Values of drinking powder “Ovaltine” in glass bottle of all origins fixed at $ 3.10/kg, drinking powder “Ovaltine” in plastic bottle at $2.79/kg; drinking powder “Ovaltine” in plastic bags at $2.62/kg; drinking powder “Ovaltine” in paper bags is fixed at $2.50/kg.
And, customs values of drinking powder Milo, Bournvita and Complan plastic bottle fixed at $ 3.40/Kg, drinking powder Milo; Bournvita and Complan in plastic bags at $3.35/kg; drinking powder Milo, Bournvita and Complan in paper bags at $3.10/kg, drinking powder “Milo’ in tin pack at $3.45/kg, drinking powder “Nesquick’ in plastic bottle at $4.58/kg, drinking powder “Nesquick’ in paper bags at $4.0/kg; drinking powder “Horlicks’ in plastic bottle at $4.71/kg and customs values of drinking powder “Horlicks’ in paper bags is fixed at $4.20/kg.
