Guide to Customs Valuation is a complete and comprehensive commentary on laws relating to valuation under Customs laws. It is a brief, concise and handy reference book, which provides the updated and simplified analysis of provisions to determine valuation under the Customs laws. This book will be helpful for Customs Consultants, Advocates, Corporate Managers & Departmental Officers. This book is divided into two parts: • Valuation of Imported Goods • Valuation of Export Goods The Present Publication is the Latest Edition, authored by H.K. Maingi, amended up to July 2021, with the following noteworthy features: • [Conceptual Understanding of Valuation] Conceptual understanding of provisions of Valuation under Section 14 of Customs Act and Customs Valuation (Determination of Value of Export Goods) Rules, 2007 • [Valuation] Valuation of Imported Goods & Exported Goods, Valuation in case of High Sea Sales & related persons, Valuation of capital goods on debonding, etc. • [Various Additions in Transaction Value] Various additions in Transaction Value such as Brokerage, Service Charge, Transportation, etc. • [Other Concepts] Concepts of related persons, under-invoicing and over-invoicing, Special Valuation Branch, etc. This edition covers everything you need to understand about the provisions of Valuation under Customs in a subtle and simplified language. The detailed coverage of the book is as follows: • Introduction • Valuation of Imported Goods ◦ Transaction Value ◦ Transaction Value to be Accepted in the Absence of Condition and Restriction under Rule 3(2) ◦ Contract Prices and Transaction Value ◦ High Sea Sales and Transaction Value ◦ Related Persons ◦ Transaction Value of Identical or Similar Goods and Contemporaneous Imports ◦ Deductive Value ◦ Computed Value ◦ Residual Method ◦ Reliance on Foreign Journals indicating International Prices for Determining Assessable Value ◦ Addition to Transaction Value Royalty, Licence and Technical Know-How Fees ◦ Other Addition to Transaction Value ◦ Declaration by the Importer ◦ Rejection of Declared Value ◦ Investigation by Special Valuation Branch • Valuation of Export Goods ◦ Export Valuation ◦ Under-Invoicing and Over-Invoicing of Exports ◦ Customs Valuation (Determination of Value of Export Goods) Rules, 2007 ◦ Inclusion/Exclusion Duty Element from Cum Duty Price ◦ Valuation of Goods Sold in DTA from EOU and Debonding of Capital Goods from EOU

4. Mr. H.K. Maingi
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About the Author
I-5

5. Preface
Having spent over half a century in dabbling in Customs & Excise
Law, I decided to leave behind something useful from my experience.
I have therefore brought out this book on Customs Valuation which
is brief, concise and a handy reference book on the subject. I feel
that this book will prove useful to Customs Consultants, Advocate
and Corporate Managers dealing with the subject as well as to the
departmental officers.
I am thankful to my associate advocates Mr. Rajiva Srivastava,
Mr. V.R. Madkaiker and Ms. Sharmila Srivastava, for giving assistance
in compiling this book. I am also thankful to my associate advocate
Mr. Rajiva Srivastava who has kindly consented to bring out
subsequent up-to-date additions to this book in case I do not happen
to be there.
Any suggestion for improvement in the subsequent editions of this
book may kindly be sent to me by e-mail at hmaingi22@gmail.com.
P
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H.K. MAINGI
I-7

6. Contents
INTRODUCTION
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10
PART A
VALUATION OF IMPORTED GOODS
CHAPTER 1
TRANSACTION VALUE
1.1
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I-9
PAGE
About the Author
I-5
Preface
I-7
List of Cases
I-17

7. 1.3
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CHAPTER 2
TRANSACTION VALUE TO BE ACCEPTED IN
THE ABSENCE OF CONDITIONS AND
RESTRICTIONS UNDER RULE 3(2)
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17
CHAPTER 3
CONTRACT PRICES AND TRANSACTION VALUE
3.1
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CHAPTER 4
HIGH SEA SALES AND TRANSACTION VALUE
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27
CHAPTER 5
RELATED PERSONS
5.1
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C
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I-10
PAGE

8. 5.7
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41
CHAPTER 6
TRANSACTION VALUE OF IDENTICAL OR SIMILAR
GOODS AND CONTEMPORANEOUS IMPORTS
6.1
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59
CHAPTER 7
DEDUCTIVE VALUE
7.1
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61
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62
CHAPTER 8
COMPUTED VALUE
8.1
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67
CHAPTER 9
RESIDUAL METHOD
9.1
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l
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a
t
i
o
n
o
f
O
l
d
C
a
r
s
b
y
R
e
s
i
d
u
a
l
M
e
t
h
o
d
76
I-11
C
O
N
T
E
N
T
S
PAGE

9. CHAPTER 10
RELIANCE ON FOREIGN JOURNALS INDICATING
INTERNATIONAL PRICES FOR DETERMINING
ASSESSABLE VALUE
10.1
G
e
n
e
r
a
l
P
r
i
n
c
i
p
l
e
s
f
o
r
r
e
l
i
a
n
c
e
o
n
F
o
r
e
i
g
n
J
o
u
r
n
a
l
s
78
10.2
L
o
n
d
o
n
S
t
o
c
k
E
x
c
h
a
n
g
e
(
L
M
E
P
r
i
c
e
s
)
79
10.3
P
L
A
T
T
P
r
i
c
e
s
80
10.4
N
I
D
B
D
a
t
a
81
10.5
W
o
r
l
d
c
a
r
c
a
t
a
l
o
g
u
e
p
r
i
c
e
86
10.6
O
t
h
e
r
j
o
u
r
n
a
l
s
86
CHAPTER 11
ADDITION TO TRANSACTION VALUE ROYALTY,
LICENCE AND TECHNICAL KNOW-HOW FEES
11.1
A
d
d
i
t
i
o
n
s
t
o
T
r
a
n
s
a
c
t
i
o
n
V
a
l
u
e
-
F
i
r
s
t
P
r
o
v
i
s
o
t
o
S
e
c
t
i
o
n
1
4
(
1
)
88
11.2
R
o
y
a
l
t
y
,
L
i
c
e
n
c
e
F
e
e
s
a
n
d
T
e
c
h
n
i
c
a
l
K
n
o
w
-
h
o
w
F
e
e
s
89
11.3
J
u
d
g
m
e
n
t
s
r
e
l
a
t
i
n
g
t
o
R
o
y
a
l
t
y
,
L
i
c
e
n
c
e
F
e
e
s
a
n
d
T
e
c
h
n
i
c
a
l
K
n
o
w
-
h
o
w
F
e
e
s
90
CHAPTER 12
OTHER ADDITION TO TRANSACTION VALUE
12.1
O
t
h
e
r
a
d
d
i
t
i
o
n
s
t
o
v
a
l
u
e
-
F
i
r
s
t
p
r
o
v
i
s
o
t
o
s
e
c
t
i
o
n
1
4
(
1
)
98
12.2
C
o
m
m
i
s
s
i
o
n
/
B
r
o
k
e
r
a
g
e
98
12.3
C
o
s
t
o
f
P
a
c
k
i
n
g
/
C
o
n
t
a
i
n
e
r
s
99
12.4
S
e
r
v
i
c
e
C
h
a
r
g
e
100
12.5
A
d
v
e
r
t
i
s
e
m
e
n
t
E
x
p
e
n
s
e
s
100
12.6
T
r
a
n
s
p
o
r
t
a
t
i
o
n
c
h
a
r
g
e
s
101
12.7
J
u
d
g
m
e
n
t
s
r
e
l
a
t
i
n
g
t
o
t
r
a
n
s
p
o
r
t
a
t
i
o
n
c
h
a
r
g
e
s
102
12.8
A
d
d
i
t
i
o
n
t
o
V
a
l
u
e
t
o
b
e
m
a
d
e
o
n
t
h
e
b
a
s
i
s
o
f
o
b
j
e
c
t
i
v
e
a
n
d
Q
u
a
n
t
i
t
a
t
i
v
e
D
a
t
a
104
C
O
N
T
E
N
T
S
I-12
PAGE

10. CHAPTER 13
DECLARATION BY THE IMPORTER
13.1
D
e
c
l
a
r
a
t
i
o
n
i
n
B
i
l
l
s
o
f
E
n
t
r
y
t
o
c
o
n
f
i
r
m
t
r
u
t
h
f
u
l
n
e
s
s
o
f
t
h
e
c
o
n
t
e
n
t
s
105
13.2
C
o
n
s
e
q
u
e
n
c
e
s
o
f
m
i
s
-
d
e
c
l
a
r
a
t
i
o
n
106
13.3
I
n
v
e
s
t
i
g
a
t
i
o
n
s
t
o
d
e
t
e
r
m
i
n
e
t
r
u
t
h
a
n
d
a
c
c
u
r
a
c
y
o
f
D
e
c
l
a
r
a
t
i
o
n
s
o
f
t
e
n
e
x
e
r
c
i
s
e
d
a
r
b
i
t
r
a
r
i
l
y
107
CHAPTER 14
REJECTION OF DECLARED VALUE
14.1
P
r
o
c
e
d
u
r
e
f
o
r
r
e
j
e
c
t
i
o
n
o
f
d
e
c
l
a
r
e
d
v
a
l
u
e
108
14.2
J
u
d
g
m
e
n
t
i
n
w
h
i
c
h
r
e
j
e
c
t
i
o
n
o
f
v
a
l
u
e
b
y
p
r
o
p
e
r
o
f
f
i
c
e
r
w
a
s
u
p
h
e
l
d
109
14.3
J
u
d
g
m
e
n
t
s
i
n
w
h
i
c
h
r
e
j
e
c
t
i
o
n
o
f
v
a
l
u
e
b
y
t
h
e
p
r
o
p
e
r
o
f
f
i
c
e
r
w
a
s
s
e
t
a
s
i
d
e
110
14.4
B
u
r
d
e
n
o
f
P
r
o
o
f
117
CHAPTER 15
INVESTIGATION BY SPECIAL VALUATION BRANCH
15.1
P
u
r
p
o
s
e
o
f
I
n
v
e
s
t
i
g
a
t
i
o
n
b
y
S
p
e
c
i
a
l
V
a
l
u
a
t
i
o
n
B
r
a
n
c
h
118
15.2
P
r
o
c
e
d
u
r
e
f
o
r
I
n
v
e
s
t
i
g
a
t
i
o
n
b
y
S
V
B
118
PART B
VALUATION OF EXPORT GOODS
CHAPTER 16
EXPORT VALUATION
16.1
E
x
p
o
r
t
V
a
l
u
a
t
i
o
n
u
n
d
e
r
S
e
c
t
i
o
n
1
4
(
1
)
o
f
C
u
s
t
o
m
s
A
c
t
125
16.2
A
p
e
x
C
o
u
r
t
g
u
i
d
e
l
i
n
e
s
o
n
v
a
l
u
a
t
i
o
n
o
f
e
x
p
o
r
t
g
o
o
d
s
126
CHAPTER 17
UNDER-INVOICING AND OVER-
INVOICING OF EXPORTS
17.1
R
e
a
s
o
n
s
f
o
r
U
n
d
e
r
-
I
n
v
o
i
c
i
n
g
/
O
v
e
r
-
i
n
v
o
i
c
i
n
g
128
I-13
C
O
N
T
E
N
T
S
PAGE

11. 17.2
C
a
s
e
s
o
f
U
n
d
e
r
-
I
n
v
o
i
c
i
n
g
o
f
E
x
p
o
r
t
s
128
17.3
C
a
s
e
s
o
f
O
v
e
r
-
I
n
v
o
i
c
i
n
g
o
f
E
x
p
o
r
t
s
129
CHAPTER 18
CUSTOMS VALUATION (DETERMINATION OF
VALUE OF EXPORT GOODS) RULES, 2007
18.1
N
e
e
d
f
o
r
s
e
p
a
r
a
t
e
e
x
p
o
r
t
v
a
l
u
a
t
i
o
n
r
u
l
e
s
134
18.2
C
o
m
p
a
r
i
s
o
n
b
e
t
w
e
e
n
I
m
p
o
r
t
a
n
d
E
x
p
o
r
t
V
a
l
u
a
t
i
o
n
R
u
l
e
s
,
b
o
t
h
p
r
o
m
u
l
g
a
t
e
d
o
n
1
0
-
1
0
-
2
0
0
7
135
18.3
J
u
d
g
m
e
n
t
s
r
e
l
a
t
i
n
g
t
o
E
x
p
o
r
t
V
a
l
u
a
t
i
o
n
R
u
l
e
s
138
CHAPTER 19
INCLUSION/EXCLUSION DUTY ELEMENT
FROM CUM DUTY PRICE
19.1
L
o
n
g
S
t
a
n
d
i
n
g
P
r
a
c
t
i
c
e
t
o
e
x
c
l
u
d
e
d
u
t
y
f
r
o
m
c
u
m
-
d
u
t
y
E
x
p
o
r
t
140
19.2
C
E
S
T
A
T
j
u
d
g
m
e
n
t
i
n
S
e
s
a
G
o
a
c
a
s
e
u
n
d
e
r
c
h
a
l
l
e
n
g
e
141
19.3
W
h
e
t
h
e
r
d
u
t
y
e
l
e
m
e
n
t
o
f
d
u
t
y
i
s
t
o
b
e
e
x
c
l
u
d
e
d
f
r
o
m
t
h
e
c
u
m
-
d
u
t
y
p
r
i
c
e
?
141
19.4
U
n
l
i
k
e
p
r
o
v
i
s
i
o
n
s
o
f
C
e
n
t
r
a
l
E
x
c
i
s
e
A
c
t
a
n
d
t
h
e
S
e
r
v
i
c
e
T
a
x
A
c
t
,
t
h
e
r
e
i
s
n
o
s
p
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c
i
f
i
c
p
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v
i
s
i
o
n
i
n
S
e
c
t
i
o
n
1
4
o
f
t
h
e
C
u
s
t
o
m
s
A
c
t
,
1
9
6
2
f
o
r
e
x
c
l
u
s
i
o
n
o
f
d
u
t
y
e
l
e
m
e
n
t
f
r
o
m
t
h
e
c
u
m
-
d
u
t
y
p
r
i
c
e
.
W
h
e
t
h
e
r
c
o
r
r
e
c
t
?
142
19.5
E
x
c
l
u
s
i
o
n
o
f
d
u
t
y
e
l
e
m
e
n
t
f
r
o
m
t
h
e
a
s
s
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s
s
a
b
l
e
v
a
l
u
e
w
i
l
l
b
e
u
n
w
o
r
k
a
b
l
e
i
n
v
i
e
w
o
f
f
r
e
q
u
e
n
t
v
a
r
i
a
t
i
o
n
s
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e
r
a
t
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o
f
d
u
t
y
W
h
e
t
h
e
r
c
o
r
r
e
c
t
?
143
CHAPTER 20
VALUATION OF GOODS SOLD IN DTA FROM EOU
AND DEBONDING OF CAPITAL GOODS FROM EOU
20.1
D
T
A
S
a
l
e
s
144
20.2
V
a
l
u
a
t
i
o
n
o
f
c
a
p
i
t
a
l
g
o
o
d
s
o
n
d
e
b
o
n
d
i
n
g
146
APPENDICES
Appendix 1 :
C
u
s
t
o
m
s
V
a
l
u
a
t
i
o
n
(
D
e
t
e
r
m
i
n
a
t
i
o
n
o
f
P
r
i
c
e
o
f
I
m
p
o
r
t
e
d
G
o
o
d
s
)
R
u
l
e
s
,
1
9
8
8
151
C
O
N
T
E
N
T
S
I-14
PAGE

12. PAGE
Appendix 2 :
C
u
s
t
o
m
s
V
a
l
u
a
t
i
o
n
(
D
e
t
e
r
m
i
n
a
t
i
o
n
o
f
V
a
l
u
e
o
f
I
m
p
o
r
t
e
d
G
o
o
d
s
)
R
u
l
e
s
,
2
0
0
7
169
Appendix 3 :
V
a
l
u
a
t
i
o
n
o
f
s
e
c
o
n
d
-
h
a
n
d
m
a
c
h
i
n
e
r
y
a
n
d
f
i
x
a
t
i
o
n
o
f
s
c
a
l
e
o
f
d
e
p
r
e
c
i
a
t
i
o
n
187
Appendix 4 :
S
e
c
o
n
d
h
a
n
d
m
a
c
h
i
n
e
r
y
-
G
u
i
d
e
l
i
n
e
s
f
o
r
v
a
l
u
a
t
i
o
n
188
Appendix 5 :
P
r
o
c
e
d
u
r
e
f
o
r
i
n
v
e
s
t
i
g
a
t
i
o
n
o
f
r
e
l
a
t
e
d
p
a
r
t
y
i
m
p
o
r
t
c
a
s
e
s
a
n
d
o
t
h
e
r
c
a
s
e
s
b
y
t
h
e
s
p
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c
i
a
l
v
a
l
u
a
t
i
o
n
b
r
a
n
c
h
e
s
196
Appendix 6 :
C
u
s
t
o
m
s
V
a
l
u
a
t
i
o
n
(
D
e
t
e
r
m
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n
a
t
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n
o
f
V
a
l
u
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o
f
E
x
p
o
r
t
G
o
o
d
s
)
R
u
l
e
s
,
2
0
0
7 212
SUBJECT INDEX 215
I-15
C
O
N
T
E
N
T
S

13. 13
1.1 TRANSACTION VALUE - APPLICABILITY OF
A
r
t
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c
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V
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)
R
u
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,
1
9
8
8
(
C
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)
w
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.
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t
i
o
n
o
f
C
u
s
t
o
m
s
V
a
l
u
a
t
i
o
n
(
D
e
t
e
r
m
i
n
a
t
i
o
n
o
f
V
a
l
u
e
o
f
I
m
p
o
r
t
e
d
G
o
o
d
s
)
,
R
u
l
e
s
,
2
0
0
7
(
C
V
R
,
2
0
0
7
f
o
r
s
h
o
r
t
)
.
A
c
c
o
r
d
i
n
g
t
o
R
u
l
e
3
o
f
t
h
e
C
u
s
t
o
m
s
C
V
R
,
2
0
0
7
,
s
u
b
-
r
u
l
e
(
1
)
,
“
T
r
a
n
s
a
c
t
i
o
n
V
a
l
u
e
”
o
f
i
m
p
o
r
t
e
d
g
o
o
d
s
s
h
a
l
l
b
e
a
c
c
e
p
t
e
d
s
u
b
j
e
c
t
t
o
a
d
j
u
s
t
m
e
n
t
s
o
n
a
c
c
o
u
n
t
o
f
c
o
s
t
s
a
n
d
s
e
r
v
i
c
e
s
m
e
n
t
i
o
n
e
d
i
n
R
u
l
e
1
0
t
h
e
r
e
o
f
.
R
u
l
e
3
(
2
)
c
a
r
v
e
s
o
u
t
e
x
c
e
p
t
i
o
n
s
t
o
a
c
c
e
p
t
a
n
c
e
o
f
“
T
r
a
n
s
a
c
t
i
o
n
V
a
l
u
e
”
.
A
c
c
o
r
d
i
n
g
t
o
t
h
i
s
s
u
b
-
r
u
l
e
,
t
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
u
n
d
e
r
s
u
b
-
r
u
l
e
(
1
)
s
h
a
l
l
b
e
a
c
c
e
p
t
e
d
p
r
o
v
i
d
e
d
:
(
a
)
t
h
e
r
e
a
r
e
n
o
r
e
s
t
r
i
c
t
i
o
n
s
o
n
u
s
e
o
f
g
o
o
d
s
b
y
t
h
e
b
u
y
e
r
.
(
b
)
t
h
e
s
a
l
e
o
r
p
r
i
c
e
i
s
n
o
t
s
u
b
j
e
c
t
t
o
s
o
m
e
c
o
n
d
i
t
i
o
n
s
o
r
c
o
n
s
i
d
e
r
a
t
i
o
n
f
o
r
w
h
i
c
h
a
v
a
l
u
e
c
a
n
n
o
t
b
e
d
e
t
e
r
m
i
n
e
d
i
n
r
e
s
p
e
c
t
o
f
t
h
e
g
o
o
d
s
b
e
i
n
g
s
o
l
d
.
(
c
)
n
o
p
a
r
t
o
f
t
h
e
p
r
o
c
e
e
d
s
o
f
a
n
y
s
u
b
s
e
q
u
e
n
t
r
e
s
a
l
e
,
d
i
s
p
o
s
a
l
o
r
u
s
e
o
f
t
h
e
g
o
o
d
s
b
y
t
h
e
b
u
y
e
r
w
i
l
l
a
c
c
r
u
e
d
i
r
e
c
t
l
y
o
r
i
n
d
i
r
e
c
t
l
y
t
o
t
h
e
s
e
l
l
e
r
.
(
d
)
t
h
e
b
u
y
e
r
a
n
d
t
h
e
s
e
l
l
e
r
a
r
e
n
o
t
r
e
l
a
t
e
d
,
o
r
w
h
e
r
e
t
h
e
y
a
r
e
r
e
l
a
t
e
d
,
t
h
e
r
e
l
a
t
i
o
n
s
h
i
p
h
a
s
n
o
t
i
n
f
l
u
e
n
c
e
d
t
h
e
p
r
i
c
e
.
I
f
t
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
c
a
n
n
o
t
b
e
d
e
t
e
r
m
i
n
e
d
a
s
p
e
r
R
u
l
e
3
(
1
)
o
f
C
V
R
,
2
0
0
7
,
t
h
e
v
a
l
u
e
s
h
a
l
l
b
e
d
e
t
e
r
m
i
n
e
d
b
y
p
r
o
c
e
e
d
i
n
g
s
e
q
u
e
n
t
i
a
l
l
y
t
h
r
o
u
g
h
R
u
l
e
s
4
t
o
9
.
1.2 TRANSACTION VALUE AND APEX COURT JUDGMENT IN EIC-
HER TRACTORS CASE
I
n
t
h
e
c
a
s
e
o
f
Eicher Tractors
v
.
CC -
2
0
0
0
(
1
2
2
)
E
L
T
3
2
1
(
S
C
)
-
t
h
e
A
p
e
x
C
o
u
r
t
d
e
l
i
v
e
r
e
d
a
n
i
m
p
o
r
t
a
n
t
j
u
d
g
m
e
n
t
w
h
i
l
e
i
n
t
e
r
p
r
e
t
i
n
g
R
u
l
e
4
o
f
C
V
R
,
C H A P T E R
1
TRANSACTION VALUE

14. Para 1.4
T
R
A
N
S
A
C
T
I
O
N
V
A
L
U
E
14
1
9
8
8
(
pari materia
w
i
t
h
r
u
l
e
3
o
f
C
V
R
,
2
0
0
7
)
.
T
h
e
H
o
n
o
u
r
a
b
l
e
C
o
u
r
t
o
b
-
s
e
r
v
e
d
t
h
a
t
“
a
m
a
n
d
a
t
e
h
a
s
b
e
e
n
c
a
s
t
o
n
t
h
e
a
u
t
h
o
r
i
t
i
e
s
t
o
a
c
c
e
p
t
t
h
e
p
r
i
c
e
a
c
t
u
a
l
l
y
p
a
i
d
o
r
p
a
y
a
b
l
e
f
o
r
t
h
e
g
o
o
d
s
u
n
d
e
r
a
s
s
e
s
s
m
e
n
t
a
s
t
h
e
t
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
.
B
u
t
t
h
e
m
a
n
d
a
t
e
i
s
n
o
t
i
n
v
a
r
i
a
b
l
e
a
n
d
i
s
s
u
b
j
e
c
t
t
o
c
e
r
t
a
i
n
e
x
c
e
p
t
i
o
n
s
s
p
e
c
i
f
i
e
d
i
n
R
u
l
e
4
(
2
)
n
a
m
e
l
y
:
(
a
)
t
h
e
r
e
a
r
e
n
o
r
e
s
t
r
i
c
t
i
o
n
s
a
s
t
o
t
h
e
d
i
s
p
o
s
i
t
i
o
n
o
r
u
s
e
o
f
t
h
e
g
o
o
d
s
b
y
t
h
e
b
u
y
e
r
o
t
h
e
r
t
h
a
n
r
e
s
t
r
i
c
t
i
o
n
s
w
h
i
c
h
-
(
i
)
a
r
e
i
m
p
o
s
e
d
o
r
r
e
q
u
i
r
e
d
b
y
l
a
w
o
r
b
y
t
h
e
p
u
b
l
i
c
a
u
t
h
o
r
i
t
i
e
s
i
n
I
n
d
i
a
;
o
r
(
ii
)
l
i
m
i
t
t
h
e
g
e
o
g
r
a
p
h
i
c
a
l
a
r
e
a
i
n
w
h
i
c
h
t
h
e
g
o
o
d
s
m
a
y
b
e
r
e
s
o
l
d
;
o
r
(
iii
)
d
o
n
o
t
s
u
b
s
t
a
n
t
i
a
l
l
y
a
f
f
e
c
t
t
h
e
v
a
l
u
e
o
f
t
h
e
g
o
o
d
s
;
(
b
)
t
h
e
s
a
l
e
o
r
p
r
i
c
e
i
s
n
o
t
s
u
b
j
e
c
t
t
o
s
a
m
e
c
o
n
d
i
t
i
o
n
c
o
n
s
i
d
e
r
a
t
i
o
n
f
o
r
w
h
i
c
h
a
v
a
l
u
e
c
a
n
n
o
t
b
e
d
e
t
e
r
m
i
n
e
d
i
n
r
e
s
p
e
c
t
o
f
t
h
e
b
e
i
n
g
v
a
l
u
e
d
;
(
c
)
n
o
p
a
r
t
o
f
t
h
e
p
r
o
c
e
e
d
s
o
f
a
n
y
s
u
b
s
e
q
u
e
n
t
r
e
s
a
l
e
,
d
i
s
p
o
s
a
l
o
r
u
s
e
o
f
t
h
e
g
o
o
d
s
b
y
t
h
e
b
u
y
e
r
w
i
l
l
a
c
c
r
u
e
d
i
r
e
c
t
l
y
o
r
i
n
d
i
r
e
c
t
l
y
t
o
t
h
e
s
e
l
l
e
r
,
u
n
l
e
s
s
a
n
a
p
p
r
o
p
r
i
a
t
e
a
d
j
u
s
t
m
e
n
t
c
a
n
b
e
m
a
d
e
i
n
a
c
c
o
r
d
a
n
c
e
w
i
t
h
t
h
e
p
r
o
v
i
s
i
o
n
s
o
f
R
u
l
e
9
o
f
t
h
e
s
e
r
u
l
e
s
;
a
n
d
(
d
)
t
h
e
b
u
y
e
r
a
n
d
s
e
l
l
e
r
a
r
e
n
o
t
r
e
l
a
t
e
d
,
o
r
w
h
e
r
e
t
h
e
b
u
y
e
r
a
n
d
s
e
l
l
e
r
a
r
e
r
e
l
a
t
e
d
,
t
h
a
t
t
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
i
s
a
c
c
e
p
t
a
b
l
e
f
o
r
c
u
s
t
o
m
s
p
u
r
p
o
s
e
s
u
n
d
e
r
t
h
e
p
r
o
v
i
s
i
o
n
s
o
f
s
u
b
-
r
u
l
e
(
3
)
.
I
t
f
o
l
l
o
w
s
t
h
a
t
u
n
l
e
s
s
t
h
e
p
r
i
c
e
a
c
t
u
a
l
l
y
p
a
i
d
f
o
r
t
h
e
p
a
r
t
i
c
u
l
a
r
t
r
a
n
s
a
c
t
i
o
n
f
a
l
l
s
w
i
t
h
i
n
t
h
e
e
x
c
e
p
t
i
o
n
s
,
t
h
e
C
u
s
t
o
m
s
a
u
t
h
o
r
i
t
i
e
s
a
r
e
b
o
u
n
d
t
o
a
s
s
e
s
s
t
h
e
d
u
t
y
o
n
t
h
e
t
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
.
”
1.3 EICHER TRACTORS JUDGMENT FOLLOWED UNDER EXISTING
CVR, 2007
T
h
e
j
u
d
g
m
e
n
t
o
f
Eicher Tractors Limited
(
supra
)
w
a
s
f
o
l
l
o
w
e
d
b
y
C
E
S
T
A
T
a
n
d
a
l
s
o
m
a
d
e
a
p
p
l
i
c
a
b
l
e
t
o
t
h
e
n
e
w
C
V
R
,
2
0
0
7
i
n
t
h
e
c
a
s
e
o
f
Indian Farm-
ers Fertiliser Co-op. Ltd.
v
.
CCE, CST, Bhubaneswar -
2
0
1
0
(
2
5
2
)
E
L
T
5
2
3
.
T
h
e
T
r
i
b
u
n
a
l
o
b
s
e
r
v
e
d
t
h
a
t
“
t
h
e
H
o
n
’
b
l
e
S
u
p
r
e
m
e
C
o
u
r
t
i
n
t
h
e
c
a
s
e
o
f
M/s.
Eicher Tractors Limited,
r
e
p
o
r
t
e
d
i
n
2
0
0
0
(
1
2
2
)
E
.
L
.
T
3
2
1
,
h
a
s
b
e
e
n
h
e
l
d
t
h
a
t
i
f
t
h
e
t
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
c
a
n
b
e
d
e
t
e
r
m
i
n
e
d
u
n
d
e
r
R
u
l
e
4
(
1
)
[
n
o
w
R
u
l
e
3
(
1
)
]
a
n
d
d
o
e
s
n
o
t
f
a
l
l
u
n
d
e
r
a
n
y
o
f
t
h
e
e
x
c
e
p
t
i
o
n
s
i
n
R
u
l
e
4
(
2
)
[
n
o
w
R
u
l
e
3
(
2
)
]
,
t
h
e
r
e
i
s
n
o
q
u
e
s
t
i
o
n
o
f
d
e
t
e
r
m
i
n
i
n
g
t
h
e
v
a
l
u
e
u
n
d
e
r
t
h
e
s
u
b
s
e
q
u
e
n
t
r
u
l
e
s
.
”
(
vide para 5.4
)
.
1.4 PRICE ACTUALLY PAID OR PAYABLE
A
c
c
o
r
d
i
n
g
t
o
t
h
e
I
n
t
e
r
p
r
e
t
a
t
i
v
e
N
o
t
e
t
o
R
u
l
e
3
,
t
h
e
p
r
i
c
e
a
c
t
u
a
l
l
y
p
a
i
d
o
r
p
a
y
a
b
l
e
i
s
t
h
e
t
o
t
a
l
p
a
y
m
e
n
t
m
a
d
e
o
r
t
o
b
e
m
a
d
e
b
y
t
h
e
b
u
y
e
r
o
r
f
o
r
t
h
e

15. 15
P
R
I
C
E
A
C
T
U
A
L
L
Y
P
A
I
D
O
R
P
A
Y
A
B
L
E
Para 1.4
b
e
n
e
f
i
t
o
f
t
h
e
s
e
l
l
e
r
f
o
r
t
h
e
i
m
p
o
r
t
e
d
g
o
o
d
s
.
I
t
n
e
e
d
n
o
t
n
e
c
e
s
s
a
r
i
l
y
t
a
k
e
t
h
e
f
o
r
m
o
f
a
t
r
a
n
s
f
e
r
o
f
m
o
n
e
y
.
P
a
y
m
e
n
t
m
a
y
b
e
m
a
d
e
b
y
w
a
y
o
f
l
e
t
t
e
r
s
o
f
c
r
e
d
i
t
o
r
n
e
g
o
t
i
a
b
l
e
i
n
s
t
r
u
m
e
n
t
s
.
P
a
y
m
e
n
t
m
a
y
b
e
m
a
d
e
d
i
r
e
c
t
l
y
o
r
i
n
d
i
r
e
c
t
l
y
.
A
n
e
x
a
m
p
l
e
o
f
i
n
d
i
r
e
c
t
p
a
y
m
e
n
t
w
o
u
l
d
b
e
t
h
e
s
e
t
t
l
e
m
e
n
t
b
y
t
h
e
b
u
y
e
r
,
w
h
e
t
h
e
r
i
n
w
h
o
l
e
o
r
i
n
p
a
r
t
,
o
f
a
d
e
b
t
o
w
e
d
b
y
t
h
e
s
e
l
l
e
r
.
T
h
e
A
p
e
x
C
o
u
r
t
i
n
t
h
e
c
a
s
e
o
f
Eicher Tractors Ltd.
(
supra
)
,
w
h
i
l
e
i
n
t
e
r
p
r
e
t
i
n
g
t
h
e
p
r
o
v
i
s
i
o
n
o
f
R
u
l
e
4
o
f
C
V
R
,
1
9
8
8
[
pari materia
w
i
t
h
R
u
l
e
3
o
f
t
h
e
C
V
R
,
2
0
0
7
]
o
b
s
e
r
v
e
d
t
h
a
t
“
P
a
y
a
b
l
e
”
i
n
t
h
e
c
o
n
t
e
x
t
o
f
t
h
e
l
a
n
g
u
a
g
e
o
f
R
u
l
e
4
(
1
)
,
m
u
s
t
b
e
r
e
a
d
a
s
r
e
f
e
r
r
i
n
g
t
o
“
t
h
e
p
a
r
t
i
c
u
l
a
r
t
r
a
n
s
a
c
t
i
o
n
”
a
n
d
p
a
y
a
b
i
l
i
t
y
i
n
r
e
s
p
e
c
t
o
f
t
h
e
t
r
a
n
s
a
c
t
i
o
n
e
n
v
i
s
a
g
e
s
a
s
i
t
u
a
t
i
o
n
w
h
e
r
e
p
a
y
m
e
n
t
o
f
p
r
i
c
e
m
a
y
b
e
d
e
f
e
r
r
e
d
.
(
vide
p
a
r
a
1
2
t
h
e
r
e
o
f
)
.

16. 16
2.1 APEX COURT JUDGMENT IN EICHER TRACTOR CASE
I
n
t
h
e
c
a
s
e
o
f
Eicher Tractors Ltd.
v
.
CC -
2
0
0
0
(
1
2
2
)
E
L
T
3
2
1
(
S
C
)
w
h
i
l
e
i
n
t
e
r
p
r
e
t
i
n
g
t
h
e
p
r
o
v
i
s
i
o
n
o
f
R
u
l
e
4
(
2
)
o
f
t
h
e
C
V
R
,
1
9
8
8
[
pari materia
w
i
t
h
R
u
l
e
3
(
2
)
o
f
C
V
R
,
2
0
0
7
]
t
h
e
A
p
e
x
C
o
u
r
t
h
e
l
d
t
h
a
t
-
“
7
.
T
h
e
r
u
l
e
s
w
h
i
c
h
h
a
v
e
b
e
e
n
f
r
a
m
e
d
a
r
e
t
h
e
C
u
s
t
o
m
s
,
V
a
l
u
a
t
i
o
n
(
D
e
t
e
r
m
i
n
a
-
t
i
o
n
o
f
P
r
i
c
e
o
f
I
m
p
o
r
t
e
d
G
o
o
d
s
)
R
u
l
e
s
,
1
9
8
8
.
T
h
e
r
u
l
e
s
c
a
m
e
i
n
t
o
f
o
r
c
e
o
n
1
6
t
h
A
u
g
u
s
t
,
1
9
8
8
.
U
n
d
e
r
R
u
l
e
3
(
i
)
t
h
e
v
a
l
u
e
o
f
i
m
p
o
r
t
e
d
g
o
o
d
s
s
h
a
l
l
b
e
t
h
e
t
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
.
‘
T
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
’
h
a
s
b
e
e
n
d
e
f
i
n
e
d
i
n
R
u
l
e
2
(
f
)
a
s
m
e
a
n
i
n
g
t
h
e
v
a
l
u
e
d
e
t
e
r
m
i
n
e
d
i
n
a
c
c
o
r
d
a
n
c
e
w
i
t
h
R
u
l
e
4
.
R
u
l
e
4
(
1
)
i
n
t
u
r
n
s
t
a
t
e
s
:
“
T
h
e
t
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
o
f
i
m
p
o
r
t
e
d
g
o
o
d
s
s
h
a
l
l
b
e
t
h
e
p
r
i
c
e
a
c
t
u
a
l
l
y
p
a
i
d
o
r
p
a
y
a
b
l
e
f
o
r
t
h
e
g
o
o
d
s
w
h
e
n
s
o
l
d
f
o
r
e
x
p
o
r
t
t
o
I
n
d
i
a
,
a
d
j
u
s
t
e
d
i
n
a
c
c
o
r
d
a
n
c
e
w
i
t
h
t
h
e
p
r
o
v
i
s
i
o
n
s
o
f
R
u
l
e
9
o
f
t
h
e
s
e
r
u
l
e
s
.
”
8
.
R
e
a
d
i
n
g
R
u
l
e
3
(
i
)
a
n
d
R
u
l
e
4
(
1
)
t
o
g
e
t
h
e
r
,
i
t
i
s
c
l
e
a
r
t
h
a
t
a
m
a
n
d
a
t
e
h
a
s
b
e
e
n
c
a
s
t
o
n
t
h
e
a
u
t
h
o
r
i
t
i
e
s
t
o
a
c
c
e
p
t
t
h
e
p
r
i
c
e
a
c
t
u
a
l
l
y
p
a
i
d
o
r
p
a
y
a
b
l
e
f
o
r
t
h
e
g
o
o
d
s
i
n
r
e
s
p
e
c
t
o
f
t
h
e
g
o
o
d
s
u
n
d
e
r
a
s
s
e
s
s
m
e
n
t
a
s
t
h
e
t
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
.
B
u
t
t
h
e
m
a
n
d
a
t
e
i
s
n
o
t
i
n
v
a
r
i
a
b
l
e
a
n
d
i
s
s
u
b
j
e
c
t
t
o
c
e
r
t
a
i
n
e
x
c
e
p
t
i
o
n
s
s
p
e
c
i
f
i
e
d
i
n
R
u
l
e
4
(
2
)
n
a
m
e
l
y
:
(
a
)
t
h
e
r
e
a
r
e
n
o
r
e
s
t
r
i
c
t
i
o
n
s
a
s
t
o
t
h
e
d
i
s
p
o
s
i
t
i
o
n
o
r
u
s
e
o
f
t
h
e
g
o
o
d
s
b
y
t
h
e
b
u
y
e
r
o
t
h
e
r
t
h
a
n
r
e
s
t
r
i
c
t
i
o
n
s
w
h
i
c
h
-
(
i
)
a
r
e
i
m
p
o
s
e
d
o
r
r
e
q
u
i
r
e
d
b
y
l
a
w
o
r
b
y
t
h
e
p
u
b
l
i
c
a
u
t
h
o
r
i
t
i
e
s
i
n
I
n
d
i
a
;
o
r
(
ii
)
l
i
m
i
t
t
h
e
g
e
o
g
r
a
p
h
i
c
a
l
a
r
e
a
i
n
w
h
i
c
h
t
h
e
g
o
o
d
s
m
a
y
b
e
r
e
s
o
l
d
;
o
r
(
iii
)
d
o
n
o
t
s
u
b
s
t
a
n
t
i
a
l
l
y
a
f
f
e
c
t
t
h
e
v
a
l
u
e
o
f
t
h
e
g
o
o
d
s
;
(
b
)
t
h
e
s
a
l
e
o
r
p
r
i
c
e
i
s
n
o
t
s
u
b
j
e
c
t
t
o
s
a
m
e
c
o
n
d
i
t
i
o
n
o
r
c
o
n
s
i
d
e
r
a
t
i
o
n
f
o
r
w
h
i
c
h
a
v
a
l
u
e
c
a
n
n
o
t
b
e
d
e
t
e
r
m
i
n
e
d
i
n
r
e
s
p
e
c
t
o
f
t
h
e
g
o
o
d
s
b
e
i
n
g
v
a
l
u
e
d
;
(
c
)
n
o
p
a
r
t
o
f
t
h
e
p
r
o
c
e
e
d
s
o
f
a
n
y
s
u
b
s
e
q
u
e
n
t
r
e
s
a
l
e
,
d
i
s
p
o
s
a
l
o
r
u
s
e
o
f
t
h
e
g
o
o
d
s
b
y
t
h
e
b
u
y
e
r
w
i
l
l
a
c
c
r
u
e
d
i
r
e
c
t
l
y
o
r
i
n
d
i
r
e
c
t
l
y
t
o
t
h
e
s
e
l
l
e
r
,
C H A P T E R
2
TRANSACTION VALUE TO BE ACCEPTED
IN THE ABSENCE OF CONDITIONS AND
RESTRICTIONS UNDER RULE 3(2)

17. 17
E
I
C
H
E
R
C
A
S
E
J
U
D
G
M
E
N
T
I
N
S
U
B
S
E
Q
U
E
N
T
C
A
S
E
S
Para 2.2
u
n
l
e
s
s
a
n
a
p
p
r
o
p
r
i
a
t
e
a
d
j
u
s
t
m
e
n
t
c
a
n
b
e
m
a
d
e
i
n
a
c
c
o
r
d
a
n
c
e
w
i
t
h
t
h
e
p
r
o
v
i
s
i
o
n
s
o
f
R
u
l
e
9
o
f
t
h
e
s
e
r
u
l
e
s
;
a
n
d
(
d
)
t
h
e
b
u
y
e
r
a
n
d
s
e
l
l
e
r
a
r
e
n
o
t
r
e
l
a
t
e
d
,
o
r
w
h
e
r
e
t
h
e
b
u
y
e
r
a
n
d
s
e
l
l
e
r
a
r
e
r
e
l
a
t
e
d
,
t
h
a
t
t
r
a
n
s
a
c
t
i
o
n
v
a
l
u
e
i
s
a
c
c
e
p
t
a
b
l
e
f
o
r
c
u
s
t
o
m
s
p
u
r
p
o
s
e
s
u
n
d
e
r
t
h
e
p
r
o
v
i
s
i
o
n
s
o
f
s
u
b
-
r
u
l
e
(
3
)
.
”
9
.
T
h
e
s
e
e
x
c
e
p
t
i
o
n
s
a
r
e
i
n
e
x
p
a
n
s
i
o
n
a
n
d
e
x
p
l
i
c
a
t
o
r
y
o
f
t
h
e
s
p
e
c
i
a
l
c
i
r
c
u
m
s
t
a
n
-
c
e
s
i
n
S
e
c
t
i
o
n
1
4
(
1
)
q
u
o
t
e
d
e
a
r
l
i
e
r
.
“Itfollowsthatunlessthepriceactuallypaid
fortheparticulartransactionfallswithintheexceptions,theCustomsauthorities
are bound to assess the duty on the transaction value.
”
(
Emphasis supplied
)
.
2.2 EICHER CASE JUDGMENT FOLLOWED AS PRECEDENT IN
SUBSEQUENT CASES
P
r
i
n
c
i
p
l
e
s
l
a
i
d
d
o
w
n
i
n
Eicher
c
a
s
e
h
a
v
e
b
e
e
n
f
o
l
l
o
w
e
d
b
y
t
h
e
S
u
p
r
e
m
e
C
o
u
r
t
i
n
s
u
b
s
e
q
u
e
n
t
c
a
s
e
s
.
G
i
s
t
o
f
s
o
m
e
o
f
t
h
e
s
e
j
u
d
g
m
e
n
t
s
i
s
r
e
p
r
o
d
u
c
e
d
b
e
l
o
w
:
(
1
)
C.C.
v
.
Mahalaxmi Gems -
2
0
0
8
(
2
3
1
)
E
L
T
1
9
8
(
S
C
)
—
I
m
p
o
r
t
e
d
r
o
u
g
h
d
i
a
m
o
n
d
s
w
e
r
e
f
o
u
n
d
t
o
b
e
o
v
e
r
-
v
a
l
u
e
d
i
n
a
p
p
r
a
i
s
-
e
r
’
s
v
a
l
u
a
t
i
o
n
r
e
p
o
r
t
a
n
d
t
r
a
d
e
p
a
n
e
l
r
e
p
o
r
t
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18. Rs. 595
AUTHOR : H.K. MAINGI
PUBLISHER : TAXMANN
DATE OF PUBLICATION : AUGUST 2021
EDITION : 2021
ISBN NO : 9789390831920
NO. OF PAGES : 252
BINDING TYPE : PAPERBACK
ORDER NOW
Guide to
Customs Valuation
Description
Guide to Customs Valuation is a complete and comprehensive commentary on laws
relating to valuation under Customs laws. It is a brief, concise and handy reference book,
which provides the updated and simplified analysis of provisions to determine valuation
under the Customs laws.
This book will be helpful for Customs Consultants, Advocates, Corporate Managers
Departmental Officers.
This book is divided into two parts:
u Valuation of Imported Goods
u Valuation of Export Goods
The Present Publication is the Latest Edition, authored by H.K. Maingi, amended up to July
2021, with the following noteworthy features:
u [Conceptual Understanding of Valuation] Conceptual understanding of provisions of
Valuation under Section 14 of Customs Act and Customs Valuation (Determination of
Value of Export Goods) Rules, 2007
u [Valuation] Valuation of Imported Goods Exported Goods, Valuation in case of High
Sea Sales related persons, Valuation of capital goods on debonding, etc.
u [Various Additions in Transaction Value] Various additions in Transaction Value such
as Brokerage, Service Charge, Transportation, etc.
u [Other Concepts] Concepts of related persons, under-invoicing and over-invoicing,
Special Valuation Branch, etc.
This edition covers everything you need to understand about the provisions of Valuation
under Customs in a subtle and simplified language.