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<h1>Understanding Customs Valuation: Rule 3 Focuses on Transaction Value; Rules 5-8 Guide Sequential Valuation Process.</h1> The Customs Valuation (Determination of Price of Imported Goods) Rules, 1988, outlines the method for valuing imported goods. Primarily, the value is based on the transaction value, as specified in Rule 3, subject to certain conditions in rules 9 and 10A. If the transaction value cannot be determined, the valuation must follow a sequential process through rules 5 to 8. This framework ensures a systematic approach to determine the customs value of imported goods.