Customs Adjusts Import Value Using Rule 5 Due to Undervaluation, Importer Accepts Re-determined Valuation.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Undervaluation of the imported goods - Rejection of transaction value - Having rejected the declared assessable value under Rule 12, the department sought to re-determine it under Rule 5 based on the contemporaneous value of similar goods imported into the country. - To determine the value of the contemporaneous imports, the relevant data was extracted from the NIDB. - Importer has also accepted the same - Demand confirmed - AT....