Valuation of imported goods - the goods are admittedly more than...

Valuation of imported goods - the goods are admittedly more than ten years old, and under Rule 3(5) of the Cenvat Credit Rules, depreciation of 2.5% is available for each quarter on straight line basis on the capital goods. Thus, the value becomes NIL after ten years of user of capital goods. - The rejection of transaction value is bad. Thus, the declared value is accepted. - no differential duty is payable- AT