The preamble to the ACV recognizes that, to the greatest extent possible. the basis of customs value should be the transaction value. However, in all, it provides for 6 methods of valuation to be applied in the following order:
1. The Transaction Value Method;
2. Comparative Value Method based on Transaction Value of Identical goods;
3. Comparative Value Method based on Transaction Value of Similar goods;
4. Deductive Value Method based on subsequent sale price in the importing country;
5. Computed Value Method based on cost of materials, fabrication and profit in the country of production; and
6. Fallback Method based on previous methods with greater flexibility.
These methods require to be applied in the given sequence, starting with the first. Only when a method specified earlier in the sequence cannot be applied, can resource be taken on the next method in the sequence
