Makes Customs Valuation (Determination of Value of Export Goods) Rules, 2007 - 095/2007 - Customs - Non Tariff

Transaction value is primary for export valuation; alternate comparison, computed and residual methods apply if transaction value is unusable.

The value of export goods shall be the transaction value, accepted even where buyer and seller are related if the relationship did not influence price; failing that, value is determined sequentially by comparison with goods of like kind and quality exported at or about the same time with adjustments, then by a computed value including cost of production, design/brand charges and profit, and finally by a residual method using reasonable means. Exporters must furnish a declaration of value; the proper officer may request further information and, if reasonable doubt remains, reject the declared value after affording a written statement of grounds and an opportunity to be heard.