https://www.taxtmi.com/caselaws?id=802656 Imported goods are ordinarily valued at the price actually paid or payable under Section 14 of the Customs Act, 1962 and the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007. Rejection of the declared value requires reasons supported by evidence, followed by reassessment under the valuation rules in sequence. Voluntary statements under Section 108 are admissible, with the timing and circumstances of retraction relevant to their assessment. Parallel invoices, overseas customs information and independent records may corroborate admissions, while genuine invoices and contemporaneous comparable imports can support reassessment. en-us Fri, 06 Nov 2026 00:00:00 +0530 Fri, 13 Nov 2026 08:45:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=802656 Imported goods are ordinarily valued at the price actually paid or payable under Section 14 of the Customs Act, 1962 and the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007. Rejection of the declared value requires reasons supported by evidence, followed by reassessment under the valuation rules in sequence. Voluntary statements under Section 108 are admissible, with the timing and circumstances of retraction relevant to their assessment. Parallel invoices, overseas customs information and independent records may corroborate admissions, while genuine invoices and contemporaneous comparable imports can support reassessment. Case-Laws Customs Fri, 06 Nov 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=802656