Residual valuation of export goods must use reasonable means, and local market price cannot be the sole basis. Where the value of export goods cannot be determined under the transaction value or related methods, residual valuation applies. The value must then be ... Summary
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Residual valuation of export goods must use reasonable means, and local market price cannot be the sole basis.
Where the value of export goods cannot be determined under the transaction value or related methods, residual valuation applies. The value must then be determined by reasonable means consistent with the principles and general provisions of the Customs Valuation (Determination of Value of Export Goods) Rules, 2007. Local market price of the export goods cannot be the sole basis for fixing value.
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