Customs Valuation of milk preparation for infant use determined up to $7.50per/kg

KARACHI: The Directorate General of Customs Valuation has determined the customs values of milk preparations for infant use up to 7.50 per kilogram as it was being imported on under-invoiced values which causing loss of revenue to government exchequer, as per notification.
The following customs values are assessed under Section 25-A of the Customs Act, 1969 included:
Milk preparations for infant use (infant formula/follow up formula/ grown up formula) with origin Europe and Far East under PCT code 1901.1000 will be assessed up to (C&F) $5.00 to $5.50 per kg.
Milk preparation for infant use (Lactose free formula) with origin Europe and Far East under PCT code 1901.1000 will be assessed up to (C&F) $6.00 to $6.50 per kg.
Milk preparation for infant use (premature formula) with origin Europe and Far East under Pct code 1901.1000 will be assessed up to (C&F) $6.75 to $7.50 per kg.
Meetings were held with all stakeholders including Federation of Pakistan Chamber of Commerce and Industry FPCCI and Karachi Chambers of Commerce of Industry KCCI representatives to obtain stakeholder views on above customs valuation.
If transactional values are higher that the customs value determine in this ruling, the assessing officer shall apply those values in terms of Sub-Section (1) of Section 25 of the Customs Act, 1969.
In case of consignments imported by air, the assessing officer shall take into account the differential between air freight and sea freight while applying the customs values.
The ruling is valid until and unless it is revised by the competent authority and review petition may be filed against the ruling under Section 25-D within 30 days from the date of issue, before the Directorate General of Customs Valuation.

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