Transaction value

As per rule 4(1), ‘transaction value’ of imported goods shall be the price actually paid or payable for the goods when sold for exported to India, adjusted in accordance with provisions of rule 9. [Rule 9 gives costs and services to be added to transaction value].

Transaction value means the price actually paid or payable for the goods, when sold, and includes in addition to the amount charsed as price, any amount that the buyer is liable to pay to, or on behalf of, the  assessee, by reason of, or in connectionwith the sale etc. but does not include the amount of duty of excise, sales tax and other taxes, if any, actually paid or actually payable on such goods.