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TMI BlogMakes 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 ..... e of the powers conferred by section 156 read with section 14 of the Customs Act, 1962(52 of 1962) the Central Government hereby makes the following rules, namely, - 1. Short title, commencement and application.- (1) These rules may be called the Customs Valuation (Determination of Value of Export Goods) Rules, 2007. (2) They shall come into force on the 10th day of October, 2007. (3) They shall apply to the export goods. 2. Definitions. - (1) In these rules, unless the context otherwise requires, - (a) "goods of like kind and quality" means export goods which are identical or similar in physical characteristics, quality and reputation as the goods being valued, and perform the same functions or are commercially interchang ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lue shall be accepted even where the buyer and seller are related, provided that the relationship has not influenced the price. (3) If the value cannot be determined under the provisions of sub-rule (1) and sub-rule (2), the value shall be determined by proceeding sequentially through rules 4 to 6. 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 adjusted in accordance with the provisions of sub-rule (2). (2) In determining the value of export goods under sub-rule (1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in relation to any export goods, 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 or accuracy of the value so declared, the transaction value shall be deemed to have not been determined in accordance with sub-rule (1) of rule 3. (2) At the request of an exporter, the proper officer shall intimate the exporter in writing the ground for doubting the truth or accuracy of the value declared in relation to the export goods by such exporter and provide a reasonable opportunity of being heard, before taking a final decision ..... X X X X Extracts X X X X X X X X Extracts X X X X
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