KARACHI: The Directorate General of Customs Valuation has revised the customs value of Milk Preparation for Infant use through Valuation Ruling No 1148/2017 under Section 25A of the Customs Act, 1969.
According to details the Customs values of Milk Preparation for Infant Use were determined and notified vide Valuation Ruling No.624/2013, dated 23’d December 2013 and its addendum dated 20-01-2014. Since prevailing customs values mentioned in the said Valuation Ruling were over three years old, therefore, the customs values therein needed to he revised in view of current international price trends. Hence, an exercise to determine the customs values of subject goods was initiated.
Meetings determination of customs values of Milk Preparation For Infant Use were scheduled on 03-01-2017 and 27-04-2017 which were. duly attended by stakeholders, and representatives of importers. The stakeholders were requested to submit the copy of GDs & invoices of imports during last three months showing factual value.
Websites name and e-mail addresses of known foreign manufacturers of the items in question through which the actual current values can be ascertained. Copy of contract or any other documents through which price has been finalized with the supplier of the goods.
Copy of L/Cs and contract made during the last three months showing the values of the item in question.
The current international prices of the subject goods were discussed with the stakeholders and they unanimously agreed that the values should be increased upwards rationally. The view point of all participants was heard in detail and considered to arrive at the assessable value of subject goods.
Valuation methods provided in Section 25 of the Customs Act, 1969 were duly followed and applied sequentially to address the valuation issue at hand. Transaction value method provided in Sub-Section (1) of Section 25 was 16 and inapplicable because the requisite information was not available as per law. Identical / similar xis value method provided in Sub-Sections (5) & (6) of Section 25 Mid were examined to determine Customs value of subject goods, this data provided some references. ever. it was found that the same could not be solely relied upon due to variation in the same.
