Transaction value governs import valuation; customs may adjust declared price under valuation factors and conditions. The Customs Value is the Transaction Value-the price actually paid or payable-after adjustment by Valuation Factors, subject to compliance with Valuation Conditions and satisfaction of Customs as to the truth and accuracy of the declared value under the Customs Valuation Rules, 2007.
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Provisions expressly mentioned in the judgment/order text.
Transaction value governs import valuation; customs may adjust declared price under valuation factors and conditions.
The Customs Value is the Transaction Value-the price actually paid or payable-after adjustment by Valuation Factors, subject to compliance with Valuation Conditions and satisfaction of Customs as to the truth and accuracy of the declared value under the Customs Valuation Rules, 2007.
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