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of <h1>High-Seas Sales: Use Last Buyer's Price as Transaction Value u/r 4 of Customs Valuation Rules, 1988.</h1> The circular addresses the determination of assessable value for goods sold on a high-seas-sales basis under the Customs Valuation Rules, 1988. It clarifies that the actual high-seas-sale-contract price paid by the last buyer should be considered the transaction value under Rule 4, rather than adding notional service charges to the CIF value. Importers must demonstrate that the transaction was an international transfer of goods and provide documentation such as invoices and contracts. If there is doubt about the declared value, the Department may reject it and apply other valuation methods under the Customs Valuation Rules, 1988.
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