https://www.taxtmi.com/caselaws?id=110637 Customs valuation under Rule 4 of the Customs Valuation Rules, 1988 turns on the price actually paid or payable, unless the reduction depends on a condition or consideration that cannot be valued. A contractual price adjustment supported by the loading-port inspection and invoice was accepted for the first consignment because the reduction had a discernible commercial basis and was not shown to be false or contrived. For the second consignment, a later private settlement reduced the price despite a conforming loading-port certificate, but no ascertainable basis for the cut was disclosed. The Tribunal treated that unexplained reduction as an indeterminable condition and upheld the original invoice value. en-us Wed, 07 Jan 2004 00:00:00 +0530 Tue, 17 Apr 2012 18:12:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110637 Customs valuation under Rule 4 of the Customs Valuation Rules, 1988 turns on the price actually paid or payable, unless the reduction depends on a condition or consideration that cannot be valued. A contractual price adjustment supported by the loading-port inspection and invoice was accepted for the first consignment because the reduction had a discernible commercial basis and was not shown to be false or contrived. For the second consignment, a later private settlement reduced the price despite a conforming loading-port certificate, but no ascertainable basis for the cut was disclosed. The Tribunal treated that unexplained reduction as an indeterminable condition and upheld the original invoice value. Case-Laws Customs Wed, 07 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110637