Customs valuation on transaction value prevails where no material shows the declared price is unreliable or commercially distorted.

Imported goods are to be valued on transaction value under the Customs Valuation Rules, and the declared price may be rejected only where the Revenue shows material to doubt its genuineness or identifies an applicable exception. Here, the transaction price of the imported car was consistent with the original manufacturer's price and there was no evidence of non-commercial considerations. The higher valuation based only on the Parkers Guide was therefore not sustainable, and the car had to be assessed on its transaction value.

---

---

Issues: Whether the imported vehicle was required to be assessed to customs duty on the basis of its transaction value or on a higher value taken from the Parkers Guide.

Analysis: The transaction price was found to compare favourably with the value worked out from the original manufacturer's price, indicating a normal commercial transaction. Apart from reliance on the Parkers Guide, the Revenue had no material to doubt the declared transaction value or to show that it was affected by non-commercial considerations or any exception to the valuation rules. Under Section 14 of the Customs Act, value is the price at which such or like goods are ordinarily sold, and Rule 3 of the Customs Valuation Rules provides that imported goods are to be valued on transaction value.

Conclusion: The imported car had to be assessed on its transaction value, and the higher valuation based on the Parkers Guide was not sustainable.

---