Customs values of printing inks revised
KARACHI: Director Customs Valuation Iqbal Muneeb has revised the customs values of printing inks and digital printing inkjet inks vide Valuation Ruling No.1237/2017.
Earlier the customs values of the Digital Printing Inkjet Inks and Printing Inks were determined vide Valuation Ruling No. 403/2011 and Valuation Ruling No. 854/2016.
It was been brought to the notice of the Directorate General of Customs Valuation that the Valuation Ruling No. 854/2016 for printing ink is being applied on the clearance of Digital Printing Inkjet Inks whereas there is a specific Valuation Ruling bearing No. 403/2011 for Digital Printing Inkjet Inks.
Moreover, the Valuation Ruling of Digital Printing Inkjet Inks is very old and needs to be revised in accordance with the trend of values in the international markets, besides printing inks values in the international market have also appreciated. Keeping in view the prevailing prices of the subject goods, an exercise was initiated for the determination of the Customs Values of the Digital Printing Inkjet Inks and Printing Inks afresh.