CUSTOMS PROCEDURES
EXPORT PROCEDURES
METHODS OF VALUATION FOR CUSTOM
6.1 WTO Valuation Agreement
CCE Hindustan Lever
The methods of valuation for customs methods are as followsimported
Methods to be applied sequentially -
Century Metal Recycling P Ltd. UOI
CC South India Television
Tavadec Industries CC
CC Lord Shiva Overseas
6.2 Transaction value of same goods for customs valuation
What is transaction value if these do not already form part of transaction value
No other additions
6.2-1 When transaction value is acceptable
CC Bureau Veritas
Rule 4 (now rule 3) is limited to the transaction in question. - -
CC Prodelin India
Eicher Tractors CC-
Chaudhary Ship Breakers CC
CC Aggarwal Industries CCE
Sanjivani Non-Ferrous Trading P Ltd. Century Metal Recycling P Ltd. UOI
CC Mahalaxmi Gems CC J D Orgochem Ltd.
Plastics UOI
Rabindra Chandra Paul CC
T Company CC Kelvin Infotech CCE
Eicher Tractors CC
Provisions of rules 10 and 12 override
Varsha
6.2-2 Relevant price is of goods sold for export to India
Jain International CC Swastik Engg. Co. CC
Price paid or payable
6.2-3 Conditions for accepting Transaction Value Eicher Tractors CC -
Special circumstances as per section 14(1) a and -
6.2-4 Conditions as per rule 3(2)
No restriction on buyer for disposal of goods except a b or c -
Sale not subject to conditions of which value cannot be determined -
No further consideration to seller of which adjustment cannot be made -
Unrelated buyer and seller, except when price acceptable under rule 3(3)
If any of the aforesaid requirement is not satisfied, ‘transaction value’ cannot be accepted for valuation purposes
6.2-5 Transaction value should be normally accepted
Eicher Tractors CC
Motor Industries Co. Ltd. CC
Informatica Software CC
International CC Rajnath Motors CC CC Ambika Nahar Exports
Andhra Sugars CC Hutchison Essar
South Ltd CC Agarwal Industries CC
Distribution CC
Balaji Office Equipment CC RSH
Gira Enterprises CCVardhaman Special Steels CC
Dwarka
Ahammed Kunhi
Price declared by importer can be enhanced on Contemporaneous evidence
Punjab Processors CC
6.2-6 Duel price in case of service parts and OE -
6.2-7 Related person under Customs Valuations Provisions what is family is not defined Explanation I
CC East African Traders per se
Clariant (India) Ltd
Prodelin India CCE
CC
CC Prodelin India
CC Magna Corpro Chem
Bayer India Ltd CC CC Bayer Corp Science
One sided interest is not ‘mutual interest’ in each other CC
Hero Honda Motors Ltd.
Maruti Udyog Ltd. Collector
Daewoo Motors CC Tata Timken CC Maruti Udyog CCE Fisher Rosemount Modi Senator CC
When transaction value can be accepted even if buyer and seller are related even if a or b
Thermon Heat Tracers Ltd. CC
CC Hewlett Packard Ltd.
Stahl India CC
Volvo India CC
Bureau Veritas CC
CC Bureau Veritas
Procter and Gamble CC
Value cannot be accepted if very high discounts given and other services provided Sun Microsystems India P Ltd. CC
Valuation when goods are procured centrally by principal company and distributed Google India Pvt. Ltd. CC
6.2-8 Burden of proof that transaction value is ‘Value’ reasonable doubt,
Modi Rubber CC
reasonable doubt’
CC Aggarwal Industries
Rule 12 is only mechanism to reject the declared value explanation
Explanation
Reasons for doubt have to be recorded by proper officer in writing and informed to importer
Metal Recycling P Ltd.
6.3 Transaction value of identical goods for customs valuation
Import from same country CC Shri Sai Sales Corporation
about same
Shankar Merchants
CUSTOMS & FTP READY
RECKONER
AUTHOR : V.S. DATEY
PUBLISHER : Taxmann
DATE OF PUBLICATION : FEBRUARY 2025
EDITION : 2025 EDITION
ISBN NO : 9789364552141
NO. OF PAGES : 948
BINDING TYPE : Paperback
DESCRIPTION
This book is a concise yet comprehensive guide, simplifying the complexities of Indian Customs laws and the Foreign Trade Policy (FTP). It covers Customs procedures, duties, valuation, exemptions, adjudication, appeals, and the entire scope of Foreign Trade Policy 2023. It addresses practical challenges in importexport compliance, Customs clearance, duty drawbacks, SEZ regulations, and international trade facilitation through practical insights. This book is intended for the following audience:
• Tax Professionals (Chartered Accountants, Cost Accountants, Company Secretaries, Lawyers)
• Importers, Exporters, Customs House Agents/Brokers, and Logistics Managers
• Corporates, MSMEs, MNCs, and Start-ups
• Academicians, Researchers, and Students
• Government Officials and Policy Makers
The Present Publication is the 2025 Edition and has been updated till 1st February 2025. It is authored by Mr V.S. Datey, with the following noteworthy features:
• [Step-by-Step Guidance] Clear explanations on import/export processes, assessment, warehousing, exemptions, remission, appeals, etc.
• [Practical Approach] Practical examples, procedural checklists, and typical scenarios to simplify complex provisions
• [Reference Tools] Section-wise index, subject index, and an extensive glossary of acronyms
• [Case Law Discussions] Important and relevant judicial precedents woven into the text
• [Comprehensive FTP 2023 Coverage] E-commerce provisions, district export hubs, and enhanced trade facilitation measures
• [Holistic View] Dedicated chapters on penalties, confiscation, criminal offences, duty drawbacks, SEZ regulations, and IFSC