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TMI BlogDRAFT CUSTOMS VALUATION (DETERMINATION OF VALUE OF EXPORT GOODS) RULES, 2007X X X X Extracts X X X X X X X X Extracts X X X X ..... ification No. ### / 2007-Customs (N.T.) DRAFT CUSTOMS VALUATION (DETERMINATION OF VALUE OF EXPORT GOODS) RULES, 2007. In exercise of the powers conferred by section 156 of the Customs Act, 1962 (52 of 1962), read with Section 22 of the General Clauses Act, 1897 (10 of 1897), the Central Government hereby makes the following rules, namely, - Rule 1. Short title, commencement and application. - (1) Theses Rules may be called the Customs Valuation (Determination of Value of Export Goods) Rules 2007. (2) They shall come into force on the __________ (3) They shall apply to the export goods. Rule 2. Definitions. - (1) In these rules, unless the context otherwise requires, - (a) "computed value" means the value of the export ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le 4. Determination of export value by comparison. - (1) The value of the export goods shall be based on the transaction value of goods of like kind and quality exported at or about the same time to other buyers in the same destination country of importation or in its absence another destination country of importation under competitive conditions, adjusted in accordance with the provisions of sub-rule (3) of this rule. (2) If the value cannot be determined under sub-rule (1), it may be based on the price at which such goods of like kind and quality are ordinarily sold under competitive conditions to the buyers in India, adjusted in accordance with the provisions of sub-rule (3) of this rule. (3) In determining the value of export goods ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lue cannot be determined under Rule 4, it may be based on a computed value, which shall include inter alia the following : (a) the cost or value of materials and fabrication or other processing employed in producing the export goods; (b) the cost or value of fashion, design or brand value; (c) an amount for profit and general expenses equal to that is usually reflected in sales of goods of the same class or kind as the goods being valued which are made by producers in India for export from India. (d) The cost or value of all other expenses as follows : (i) the cost of domestic transport of the export goods to the place of exportation. (ii) the loading, unloading and handling charges associated with the delivery of the expo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n to doubt the truth or accuracy of the value declared in relation to any export goods on the basis of previously determined value or the present market value (PMV) of the goods of like kind and quality, he may ask the exporter of such goods to furnish further information including documents or other evidence and if, after receiving such further information, or in the absence of a response of such exporter, the proper officer still has reasonable doubt about the truth of accuracy of the value so declared, it shall be deemed that the transaction value of such export goods cannot be determined under the provisions of Rule 4. (2) At the request of an exporter, the proper officer, shall intimate the exporter in writing the ground for doubtin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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