Directorate General Customs Valuation (DGCV) has revised the customs values of ice cream According to details, the customs values of ice cream were earlier determined under Section 25 A of the Customs Act, 1969, vide valuation ruling 1263 in 2018. For the purpose, a meeting was held with the stakeholders on subject goods in February.
The stakeholders contended that the existing custom values as given in valuation ruling were correct values and should be maintained. It was argued that as subject goods were mainly sold in high-end super/general- stores, therefore, more expenses (shelf rent, marketing costs etc.) were incurred at retail level which could not be managed without adding extra value to the subject goods.
Therefore, the prices get inflated in the retail market. The importers requested that all these factors should be considered while determining the value of subject goods.
The Directorate has conducted a market inquiry using deductive value method under sub-section (7) of Section 25 of the Customs Act, 1969, which was found to be appropriate and therefore was applied to arrive at assessable custom values of ice cream.
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