Finance Professional
3931 Points
Joined May 2015
The primary basis for customs valuation under the Agreement is “transaction value” as defined in Article 1. Article 1 defines transaction value as “the price actually paid or payable for the goods when sold for export to the country of importation.”
Assessable value is a very broad term and complicated as well because as per literal meaning it means the value upon which various duties and taxes are levied . However, if you check my link, the Asessable value is actually calculated based on varoius factors/valuation rules mentioned in the Excise Act/Rules