valuation rules

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Rahul Maheshwari (Querist)
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25 September 2010 May i know the difference in rule 4 (rule for identical goods) and rule 7 (deductive value) for custom valuation.

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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25 September 2010 Rule 7 of custom valuation rules is applied if transaction value of identical goods or similar goods is not available but these products are sold in india. The assunption made in this method is that identical or similar imported goods are sold in India and its selling price in India is available.