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<h1>Customs Valuation Rules: Determining Import/Export Value Using Transaction Value Method Under Customs Act, 1962</h1> The Customs Valuation guidelines under the Customs Act, 1962, detail the process for determining the value of imported and exported goods, primarily using the 'transaction value' method. This method considers the actual price paid or payable, adjusted for certain costs and services. The guidelines also outline conditions under which the transaction value may be rejected, such as when buyer and seller are related or if the value declared is doubted. In such cases, alternative valuation methods are applied sequentially. The rules ensure transparency and uniformity in customs valuation, with provisions for appeals in valuation disputes.