Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 — LIST OF AMENDING ACTS

Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 Notification No. 94/2007 -Customs (N.T.) 1. Short title, commencement and application.(1)These rules may be called the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007. (2) They shall come into force on the 10 th day of October, 2007. They shall apply to imported goods. 2. Definitions. - In these rules, unless the context otherwise requires, - (a) "computed value" means the value of imported goods determined in accordance with rule 8. (b) "deductive value" means the value determined in accordance with rule 7. (c) "goods of the same class or kind", means imported goods that are within a group or range of imported goods produced by a particular industry or industrial sector and includes identical goods or similar goods; (d) "identical goods" means imported goods - (i) which are same in all respects, including physical characteristics, quality and reputation as the goods being valued except for minor differences in appearance that do not affect the value of the goods; (ii) produced in the country in which the goods being valued were produced; and (iii) produced by the same person who produced the goods, or where no such goods are available, goods produced by a different person, but shall not include imported goods where engineering, development work, art work, design work, plan or sketch undertaken in India were completed directly or indirectly by the buyer on these imported goods free of charge or at a reduced cost for use in connection with the production and sale for export of these imported goods; (e) "produced" includes grown, manufactured and mined (f) "similar goods" means imported goods - (i) which although not alike in all respects, have like characteristics and like c