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.