https://www.taxtmi.com/article/detailed?id=15330 Undervaluation and overvaluation are treated as misdeclaration under customs law, with import valuation founded on the transaction value and a prescribed hierarchy of alternate valuation methods when transaction value is rejected. Undervaluation (false invoices, dual invoicing, misclassification, related party manipulation) and overvaluation (inflated export claims) attract confiscation, mandatory monetary penalties equal to duty evaded, prosecution, reversal of wrongly claimed incentives, and administrative sanctions; procedural safeguards include valuation databases, show cause notices, adjudication, and appeal, while defences rest on genuine documentation and bona fide error. en-us Mon, 03 Nov 2025 08:14:30 +0530 Mon, 03 Nov 2025 08:14:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15330 Undervaluation and overvaluation are treated as misdeclaration under customs law, with import valuation founded on the transaction value and a prescribed hierarchy of alternate valuation methods when transaction value is rejected. Undervaluation (false invoices, dual invoicing, misclassification, related party manipulation) and overvaluation (inflated export claims) attract confiscation, mandatory monetary penalties equal to duty evaded, prosecution, reversal of wrongly claimed incentives, and administrative sanctions; procedural safeguards include valuation databases, show cause notices, adjudication, and appeal, while defences rest on genuine documentation and bona fide error. Articles Customs - Import - Export - SEZ Mon, 03 Nov 2025 08:14:30 +0530 https://www.taxtmi.com/article/detailed?id=15330