KARACHI: Directorate General of Customs Valuation has revised customs values on the import of branded ice cream from all origins.
The new valuation ruling revealed that the directorate has revised customs values on the import of branded ice cream including Moven Pick Ice Cream (Assorted Flavours); Hagen Dazs Ice Cream (Assorted Flavours); Baskin Robins Ice Cream (Assorted Flavours); Oreo Ice Cream (Assorted Flavours); Toblerone Ice Cream (Assorted Flavours); Cadbury Ice Cream (Assorted Flavours); Snickers Ice Cream (Assorted Flavours); Bounty Ice Cream (Assorted Flavours and other brands of imported ice cream.
Previously, the Customs values of Ice Cream were determined under Section 25A of the Customs Act, 1969 vide Valuation Ruling No.1472/2020. M/s Capvan Sweets (Pvt.) Limited filed a complaint to the Federal Tax Ombudsman (FTO) for not accepting the goods declaration on declared value and non-release of goods provisional
Subsequently, FTO directed the Directorate General of Customs Valuation to issue a new valuation after taking a decision on the Complainant’s application after giving proper opportunity of hearing to the Complainant and all other stakeholders to settle the issue for the future. Therefore, an exercise has been undertaken by this Directorate to determine the same.
Stakeholders’ participation in the determination of Customs values: Meetings were convened which were attended by the relevant stakeholders. The issues pertaining to the valuation of subject goods were deliberated upon in detail in the meeting.
Finally, the Customs values of the subject goods have been determined under Section 25(9) read with Section 25(7) and Customs Rule 121(2) of Customs Rules, 2001 which provides that the methods of valuation, to be employed under sub-section (9) of section 25 of the Customs Act may be inclusive of those laid down in sub-sections (1), (5), (6), (7) and (8) of the said section, but a reasonable flexibility in the application of such methods would be in conformity with the aims and provisions of sub-section (9) of that section, it added.
