Valuation of imported goods - the word “doubt” used in the rule has to be based on cogent reasons and...

The valuation of imported goods requires that any "doubt" regarding the transaction value must be supported by cogent reasons and evidence. Under Rule 12 of the Customs Valuation Rules, 2007, the transaction value cannot be rejected solely because similar goods have been imported at higher values. A reasonable ground must be established, and the applicability of Rule 5 must be examined before rejecting the transaction value. .....

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