Page 95 - ELT_15th May 2020_VOL 372_Part 4th

2020 ] COMMISSIONER OF CUS. (PORT), KOLKATA v. STEEL AUTHORITY OF INDIA LTD. 485

4. Transaction value. — (1) The transaction value of imported goods
shall be the price actually paid or payable for the goods when sold for ex-
port to India, adjusted in accordance with the provisions of Rule 9 of these
rules.
(2) The transaction value of imported goods under sub-rule (1) above
shall be accepted :
Provided that -
(a) The sale is in the ordinary course of trade under fully competitive
conditions;
(b) The sale does not involve any abnormal discount or reduction from
the ordinary competitive price;
(c) The sale does not involve special discounts limited to exclusive
agents;
(d) Objective and quantifiable data exist with regard to the adjustments
required to be made, under the provisions of Rule 9, to the transaction
value;
(e) There are no restrictions as to the disposition or use of the goods by
the buyer other than restrictions which -
(i) are imposed or required by law or by the public authorities in
India; or
(ii) limit the geographical area in which the goods may be resold;
(iii) do not substantially affect the value of the goods;
(f) the sale or price is not subject to same condition or consideration for
which a value cannot be determined in respect of the goods being
valued;
(g) no part of the proceeds of any subsequent resale, disposal or use of
the goods by the buyer will accrue directly or indirectly to the seller
unless an appropriate adjustment can be made in accordance with the
provisions of Rule 9 of these rules; and
(h) the buyer and seller are not related,
or where the buyer and seller are related, that transaction value is ac-
ceptable for Customs purposes under the provisions of sub-rule (3)
below.
(3)(a) Where the buyer and seller are related, the transaction value shall
be accepted provided that the examination of the circumstances of the sale
of the imported goods indicate that the relationship did not influence the
price.
(b) In a sale between related persons, the transaction value shall be ac-
cepted, whenever the importer demonstrates that the declared value of the
goods being valued, closely approximates to one of the following values as-
certained at or about the same time-
(i) the transaction value of identical goods, or of similar goods, in
sales to unrelated buyers in India;
(ii) the deductive value for identical goods or similar goods;
(iii) the computed value for identical goods or similar goods.
Provided that in applying the values used for comparison, due
account shall be taken of demonstrated difference in commer-
cial levels, quantity levels, adjustments in accordance with the
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