Price list is not a good basis for arriving at assessable value of goods in the course of international trade

Quite often the Customs Department, for verification of assessable value of imported goods, seek price list of the international suppler. The value in international trade depends on various factors viz. the quantity ordered, prospects of further business etc. So the valuation adopted by the Revenue on the basis of price list has no legal basis. The question of reliability of price in the price list was examined by the Hon’able Tribunal and it was held that price list published by a supplier is not a good basis for arriving at assessable value of goods in the course of international trade. For detail please see M/s Global Marketing Company Vs. CC, New Delhi