KARACHI: Director General of Customs Valuation, Sumaira Nazir has rejected the revision petition filed by the manufacturer M/s DIC Pakistan Ltd against Valuation Ruling No.707/2015 with respect to the product ‘Printing Inks’.
According to details, Manufacturer of printing inks M/s DIC Pakistan was of the view that in the said ruling the customs value of printing inks has been determined at a very minimum rate, whereas the value should be declared at $3.5 per kg because the said product is being sold at this price throughout China.
It is important to mention that the raw material which is used in the manufacturing of offset inks, if it is imported in Pakistan then only the landed cost excluding the custom duty would equal to $3.25 to $4.00 per kg.
Responding to the queries made by the manufacturer, Valuation department made it explicit that during routine business, the price is interdependent on the quality and color of the printing inks having different C&F values. It is necessary to elucidate that the manufacturer has no objection on the determination of the customs value at the same rate if the printing ink is of Korea or Taiwan origin. Apart from this, the way manufacturer is making comparison with the raw material and finished goods is beyond imagination as the right way is to make comparison with the cost of production and other related information.
Taking into consideration all the facts and figures and in-depth market inquiry, DG of Customs Valuation remarked that the findings does not contain any flaw and the submissions made by the importer are meaningless and baseless due to which the revision petition is rejected as it lacks merit.