https://www.taxtmi.com/caselaws?id=51729 Imported goods must ordinarily be valued at the price actually paid or payable under Rule 4 of the Customs Valuation Rules, 1988, and the declared transaction value cannot be rejected merely because it is lower than the manufacturer's price list. A higher price list is only a general quotation and, without a recognised exception or other valid basis under the rule, does not justify substitution of the invoice value. On the facts recorded, the department relied only on the price list and did not establish any exception to acceptance of the declared price, so the importer's transaction value had to be accepted. en-us Wed, 30 Jan 2002 00:00:00 +0530 Mon, 27 Sep 2010 18:19:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51729 Imported goods must ordinarily be valued at the price actually paid or payable under Rule 4 of the Customs Valuation Rules, 1988, and the declared transaction value cannot be rejected merely because it is lower than the manufacturer's price list. A higher price list is only a general quotation and, without a recognised exception or other valid basis under the rule, does not justify substitution of the invoice value. On the facts recorded, the department relied only on the price list and did not establish any exception to acceptance of the declared price, so the importer's transaction value had to be accepted. Case-Laws Customs Wed, 30 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51729