Customs Valuation Rule 10A - Rejection of Declared Value

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..... d to the existing Customs Valuation Rules, 1988 to give effect to the decision taken by the Ministers of the Countries which the signatories to GATT, 1994, (copy enclosed). The rule 10A reads as follows :- "10A. Rejection of declared value:- (1) When the proper officer has reason to doubt the truth or accuracy of the value declared in relation to any imported goods, he may ask the importer of s .....

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..... transaction value, i.e. the price actually paid or payable for the goods when sold for export to India, as adjusted, in accordance with the provisions of rule 9, has to be accepted, except where situations as provided in Rule 4(2) and 4(3) exist. If done of these circumstances prevail, the rules do not permit the rejection of declared value, if such a value is supported by an invoice from the sell .....

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..... ports, at different points of time. It was also observed that, the declared value of tinplate waste was US$ 300-310 PMT (CIF) whereas the prices of HR coil itself was in the range of US$ 340-350 PMT. Similar under invoicing has also been noticed in regard to imports of ball bearings, plastic raw materials etc. 5. In the absence of any specific evidence to reject the declared value, at times, th .....

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