https://www.taxtmi.com/caselaws?id=52007 Transaction value for customs valuation under Rule 4 remains anchored to the price of the goods actually contracted for at the time of import. A post-import addendum reducing the ship's price did not alter assessable value because the original memorandum described an outright sale on an "as is where is" basis, and the asserted defects did not show that the vessel delivered was materially different from the vessel contracted for. Where no contractual basis for a reduced price exists and the price reduction arises only after import, the original agreed price continues to govern assessment. en-us Thu, 24 Jul 2003 00:00:00 +0530 Mon, 15 Jul 2024 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52007 Transaction value for customs valuation under Rule 4 remains anchored to the price of the goods actually contracted for at the time of import. A post-import addendum reducing the ship's price did not alter assessable value because the original memorandum described an outright sale on an "as is where is" basis, and the asserted defects did not show that the vessel delivered was materially different from the vessel contracted for. Where no contractual basis for a reduced price exists and the price reduction arises only after import, the original agreed price continues to govern assessment. Case-Laws Customs Thu, 24 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52007