Page 113 - COMBINED QUESTIONS AND ANSWERS - EDITION 2019 - PART II_Neat

(iii) Mis-declaration of the information leads to action as per Customs Act, 1962.
(iv) All of the above
A-385: iv - All of the above
Q-386: The fallback method relates to

(i) Based on earlier methods with greater flexibility under Rule 9 of CVR
(ii) Comparison with transaction value of similar goods under Rule 5 of CVR
(iii) Based on cost of materials
(iv) Based on fabrication
A-386: i - Based on earlier methods with greater flexibility under Rule 9 of CVR
Q-387: Which rule says the Determination of the method of valuation under Customs Valuation
Rules, 2007
(i) 2
(ii) 3
(iii) 4

(iv) 5
A-387: ii - 3
Q-388: Clause (a) of Rule 8 of Customs Valuation (Determination of Price of imported Goods) Rules,
2007 is to be determined on the basis of
(a) Information relating to the production of the goods being valued supplied by or on
behalf of the producer.
(b) Commercial accounts of the producer, provided that such accounts are consistent
with the generally accepted accounting principles applied in the country where the
goods are produced.
Which one of the above statement is correct?
(i) a only
(ii) b only
(iii) both a and b

(iv) none of the above
A-388: both a and b
Q-389: In which Rule of the Customs Valuation (Determination of Value of Export Goods) Rules,
2007 says that the exporter has to file Export Value Declaration relating to the value?
(i) 5
(ii) 6
(iii) 7
(iv) 8

A-389: iii - 7
Q-390: Which rules on the value of the export goods declared by the exporter can be rejected under
the Customs Valuation (Determination of Value of Export Goods) Rules, 2007?
(i) 5
(ii) 6
(iii) 7

(iv) 8

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