Customs values of zip sliders/zip runners revised

Directorate General Customs Valuation (DGCV) has revised the customs values of zip sliders/zip runners under section 25 (7) of the Customs Act, 1969. According to details, the customs values of zip sliders/zip runners were earlier determined in 2016. The representations from local manufacturers were received wherein they stated that the price of zinc had increased in the international market and the value of the subject goods, especially zinc sliders need to be realigned with international values.
Therefore, the Directorate has initiated an exercise for re-determination of custom values of zip slider/zip runners. For the purpose, the meeting with stakeholders was held in November, 2017. During meeting, the local manufacturers and importers of the subject goods were of the view that the prices of raw material of zip sliders/runners, especially made of zinc had increased in the international market.
Moreover, Importer of zip sliders made of brass contended that this item was not locally manufactured and due to its high price set in valuation ruling, they were not able to import the same. However, no one submitted any corroboratory document/evidence in support of their contentions. Thereafter, market enquiries as envisaged under Section 25(7) of the Customs Act, 1969, were conducted. Online prices were also obtained to corroborate the findings of the market surveys. Consequently, the custom values of zip slider/zip runners (low end brands) have been determined under section 25 (7) of the Customs Act, 1969.