Directorate General Customs Valuation (DGCV) has revised the customs values of Tubular Metal Needles in Bulk, Disposable Surgical Metal Needles (Sterilized) and Disposable Veterinary Metal Needles (Sterilized) under sub- section (9) of section 25 of the Customs Act, 1969.
According to details, the customs values of Tubular Metal Needles were earlier determined vide valuation ruling no 1011 in 2017. Several representations from commercial importers were received wherein they contended that customs values determined in the existing valuation ruling were not reflective of prices in international markets.
They requested to determine the customs values afresh especially the value of Disposable Surgical Metal Needles Sterilized with Hub, Cap and Blister Packing, in accordance with the trend of values in the international markets. Keeping in view the prevailing prices, the DGCV has initiated an exercise for determination of the customs values of the subject goods in terms of section 25-A of the Customs Act, 1969.
For the purpose, meetings with the stakeholders were held to discuss the current international prices of the subject items. The representatives of importers and the field formations attended the meetings.
All stakeholders contended at the customs values determined vide valuation ruling no 1011 in 2017 were on higher side and requested for the downward revision of price in accordance with prices in international markets.
The representatives of M/s Surgiplast and M/s Al-Badr Manufacturing contended that the values of metal needles in bulk are very high. M/s Ghazali Brothers contended that the process of sterilization and blister packing was not very costly and the difference between unsterilized and sterilized packing was irrational and the values notified in the existing valuation ruling may be reconsidered and rationalized.
They emphasized on the acceptance of their declared values. The viewpoint of all participants was heard in detail and considered to arrive at customs values of the subject goods.
Later, all gathered information was evaluated and analyzed for the purpose of determination of customs values. Consequently, the customs values of Tubular Metal Needle, Disposable Surgical Metal Needles and Disposable Veterinary Metal Needles (Sterilized) were determined under sub-section (9) of section 25 of the Customs Act, 1969.