74. Value of goods not liable to ad valorem duty

(1)     Subject to the provisions of subsection (2), the customs value of any imported goods shall be declared by the importer on entry of such goods.

[Subsection (1) substituted by section 25 of Act 112 of 1977 and section 17 of Act 86 of 1982]

(2)     The Commissioner may by rule exempt, to the extent specified in the rules, any class or kind of such goods or any such goods to which circumstances so specified apply, from the provisions of subsection (1).

[Subsection (2) substituted by section 52 of Act 45 of 1995]