Assignment 1

Title:-Customs Valuation
Name:-W.M.N.B.Aiyarathna
Date of Submission:-10/07/2010

Article VII of the General Agreements on Tariffs and Trade (GATT) has provided the six
methodologies to perform reliable Customs Valuation. It confers the right of to both parties in the
import transaction namely Customs and importer.

Method Description of Method Relevant Article of the

WTO Valuation
Agreement
Method 1 Transaction Value Method Article 1
Method 2 Transaction Value of Identical Imported Goods Article 2
Method 3 Transaction Value of Similar Imported Goods Article 3
Method 4 Deductive Value Method Article 5
Method 5 Computed Value Method Article 6
Method 6 Fallback Value Method Article 7