https://www.taxtmi.com/article/detailed?id=14123 Contemporaneous import provisions allow Customs to replace a suspect transaction value with a value derived from similar goods imported in the same period under the Comparable Goods Method; Customs identifies undervaluation through risk profiling, verifies invoices and classification, compares transaction prices of contemporaneous imports, and, where declared values are materially lower, corrects the value for duty assessment and pursues penalties, seizures, audits or prosecution as applicable. en-us Wed, 16 Apr 2025 08:39:45 +0530 Wed, 16 Apr 2025 08:39:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14123 Contemporaneous import provisions allow Customs to replace a suspect transaction value with a value derived from similar goods imported in the same period under the Comparable Goods Method; Customs identifies undervaluation through risk profiling, verifies invoices and classification, compares transaction prices of contemporaneous imports, and, where declared values are materially lower, corrects the value for duty assessment and pursues penalties, seizures, audits or prosecution as applicable. Articles Customs - Import - Export - SEZ Wed, 16 Apr 2025 08:39:45 +0530 https://www.taxtmi.com/article/detailed?id=14123