https://www.taxtmi.com/circulars?id=6013 Authority under Section 14(1) permits disregarding declared transaction value when under valuation is reasonably suspected and prima facie evidence exists; acceptable evidence includes published price lists and previously accepted customs values. If declared price is substantially lower than known prices, the importer must satisfactorily explain the difference; failing that, customs may reject the transaction value after giving a reasonable opportunity and apply subsequent valuation methods under the Rules. en-us Mon, 07 May 1990 00:00:00 +0530 Mon, 29 Jun 2009 15:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=6013 Authority under Section 14(1) permits disregarding declared transaction value when under valuation is reasonably suspected and prima facie evidence exists; acceptable evidence includes published price lists and previously accepted customs values. If declared price is substantially lower than known prices, the importer must satisfactorily explain the difference; failing that, customs may reject the transaction value after giving a reasonable opportunity and apply subsequent valuation methods under the Rules. Circulars Customs Mon, 07 May 1990 00:00:00 +0530 https://www.taxtmi.com/circulars?id=6013