<h1>Revised Customs Act 1962 Section 14: New Valuation Rules for Imported and Exported Goods Effective October 10, 2007.</h1> The Finance Act, 2007 has revised Section 14 of the Customs Act, 1962 concerning the valuation of imported goods, effective from October 10, 2007. Notification No. 93/2007 CUS(NT) dated September 13, 2007, introduced the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007, which also took effect on October 10, 2007. The Board issued Circular No. 38/2007 Customs on October 9, 2007, providing guidance on the new provisions. Additionally, new valuation rules for export goods were implemented starting October 10, 2007.