Customs valuation principle: transaction value governs import assessment, with hierarchical alternative methods when declared value is unreliable. Customs valuation prioritises the transaction value-the price actually paid or payable-subject to prescribed adjustments and customs verification; where notified Tariff Values exist those govern ad valorem duty calculation. If transaction value is unacceptable due to missing data, valuation conditions, related-party influence, restrictions, or doubts about accuracy, rules prescribe hierarchical alternative methods (identical/similar transaction comparison, deductive, computed, fallback). Specified valuation factors require additions or deductions. Procedural safeguards include notices, hearings, appeals and provisional clearance against security.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Customs valuation principle: transaction value governs import assessment, with hierarchical alternative methods when declared value is unreliable.
Customs valuation prioritises the transaction value-the price actually paid or payable-subject to prescribed adjustments and customs verification; where notified Tariff Values exist those govern ad valorem duty calculation. If transaction value is unacceptable due to missing data, valuation conditions, related-party influence, restrictions, or doubts about accuracy, rules prescribe hierarchical alternative methods (identical/similar transaction comparison, deductive, computed, fallback). Specified valuation factors require additions or deductions. Procedural safeguards include notices, hearings, appeals and provisional clearance against security.
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