Customs Valuation (Determination of Value of Imported Goods) Rules, 2007
9. Residual method.
(1) Subject to the provisions of rule 3, where the value of imported goods cannot be determined under the provisions of any of the preceding rules, the value shall be determined using reasonable means consistent with the principles and general provisions of these rules and on the basis of data available in India;
Provided that the value so determined shall not exceed the price at which such or like goods are ordinarily sold or offered for sale for delivery at the time and place of importation in the course of international trade, when the seller or buyer has no interest in the business of other and price is the sole consideration for the sale or offer for sale.
(2) No value shall be determined under the provisions of' this rule on the basis of —
(i)the selling price in India of the goods produced in India;
(ii)a system which provides for the acceptance for customs purposes of the highest of the two alternative values;
(iii)the price of the goods on the domestic market of the country of exportation;
(iv)the cost of production other than computed values which have been determined for identical or similar goods in accordance with the provisions of rule 8;
(v) the price of the goods for the export to a country other than India;
(vi)minimum customs values; or
(vii)arbitrary or fictitious values.