KARACHI: Director Customs Valuation Manzoor Hussain Memon has revised the customs values of food supplements (drinking powder) vide valuation ruling No.792/2016.
It was brought to the notice of Directorate General of Customs Valuation by field formations that Food Supplements were being imported at under invoiced values, causing loss of revenue to Government exchequer. This prompted an exercise to determine the fair Customs values for imported Food Supplements. After detailed investigation this Directorate General determined the Customs values and Valuation Ruling No. 640/2014 issued.
However, an importer filed a revision petition before the Honorable 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 under PCT Chapters 19.01 and 21.06 of all origins are 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.
Customs values of Drinking Powder Milo, Bournvita and Complan Plastic Bottle is 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.