Transaction value :
Transaction value means:
- Price at which such or like goods are ordinarily sold or offered for sale;
- When sold for export to India for delivery at the time and place of importation;
- Where the buyers and sellers of the goods are not related;
- Price is the sole consideration for the sale;
- At rate of exchange as on the date of presentation of Bill of Entry as fixed by CBEC
- Subject to such other conditions as may be specified in the rules made in this behalf.
Note- If any of the above conditions are not satisfied valuation for export goods should be done based on Customs Valuation ( Determination of Value of Export Goods ) Rules,2007
However, in case of imported goods, assessable value is to be determined in accordance with the Customs Valuation (Determination of Price of Imported. Goods ) Rules,2007. Hence, value of imported goods shall be ‘transaction value’ subject to Customs Valuation (Determination of Price of Imported. Goods ) Rules,2007.