Customs value of digital printing inkjet inks, printing inks revised

Directorate General Customs Valuation (DGCV) has revised the customs values of digital printing inkjet inks and printing inks under section 25 (7) of the Customs Act, 1969. The customs values of these inks were earlier determined through valuation ruling 403 in 2011 and valuation ruling 854 in 2016.
It was brought to the notice of the Directorate that the valuation ruling 854 read with order-in-revision number 232/2016 for printing ink was being applied on the clearance of digital printing inkjet inks whereas there was a specific valuation ruling 403 for the said 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. Keeping the prevailing prices of the subject goods in view, the Directorate has initiated an exercise for the determination of the customs values of the digital printing inkjet inks and printing inks in terms of section 25-A of the Customs Act, 1969.
For the purpose, the meeting with stakeholders including importers, local manufacturers and representatives from field formations was held on December 16 last to discuss the current international prices of digital printing inkjet inks and printing inks.
The participants stated that digital printing inkjet inks were costlier than the printing ink. They said that some unscrupulous importers were involved in clearing their consignments of digital printing inkjet inks as per the valuation ruling 854 instead of valuation ruling 403 issued for the digital printing ink.
The importers of printing ink of Korean origin informed that the prices of printing inks of Korean origin were higher than the existing valuation ruling and also provided documentary evidence in this regard. They also stated that same quality printing ink (Dihan brand) was being imported from Korea as well as from Vietnam, therefore both origin products may be clubbed together.
On the other hand, the importers of China origin inks stated that the prices of their products were declining in the international market. Later, the DGCV adopted all relevant valuation methods, conducted market enquiries as envisaged under section 25(7) of the Customs Act, 1969 and evaluated all gathered information. Consequently, the customs values of digital printing inkjet inks and printing inks have been determined under section 25(7) of the Customs Act, 1969.