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<h1>India's 2007 Customs Rules: Export Goods Valuation Methods Explained; Transaction Value as Primary Method</h1> The Customs Valuation (Determination of Value of Export Goods) Rules, 2007, issued by the Government of India, outline the methods for determining the value of export goods under the Customs Act, 1962. Effective from October 10, 2007, these rules apply to all export goods. The primary method for valuation is the transaction value, even if the buyer and seller are related, provided the relationship does not influence the price. If the transaction value cannot be determined, alternative methods such as comparison, computed value, and residual methods are used. Exporters must declare the value of goods, and if the declared value is doubted, the customs officer may request further information and provide an opportunity for the exporter to be heard before making a final decision.