Customs value of skimmed milk, instant milk powders revised

Directorate General of Customs Valuation (DGCV) has revised the customs value of skimmed milk powder and instant milk powder under section 25 (7) of the Customs Act, 1969

According to details, the customs values of aforementioned items were earlier determined through valuation ruling No 1239 in 2018, which needed re-determination because the said values did not reflect true prevailing prices in international markets.

Therefore, the Directorate has initiated an exercise for determination of the customs values of skimmed milk powder & instant milk powder in terms of section 25-A of the Customs Act, 1969.

For the purpose, meeting with stakeholders including importers was held on 19-11-2019 to discuss the current international prices of the subject goods.

The participants mostly agreed that the prices of subject commodities have shown upward trends in international markets. When inquired if there was any accredited publication which depicts international values, the response of participants was in negative. The participants stated that mostly skimmed milk was imported in bulk and was used mainly in preparation of confectionary items.

Keeping the said in view, the Directorate conducted market inquiries under sub-section (7) of section 25 of the Customs Act, 1969 and determined the values of said goods under section 25 (7) of the Customs Act, 1969 accordingly.