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How to calculate CIF value of Import (Accounts)

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This query is : Resolved


( Author )
21 May 2008

CIF value should include Fob value + ocean freight + insurance + Inland haulage + Inland transit insurance.


S.Srinivasaraghavan

( Expert )
21 May 2008

You have already mentioned.


Vinod

( Author )
21 May 2008

I have my doubt whether once goods reached in India any inland haulage + transit insurance from port to factory will be included or not. This is in reference to details we prepare as per requirement of Sch VI, in the notes to accounts.



Vinod

( Author )
21 May 2008

xx


CA. Yayati Tyagi

( Expert )
21 May 2008

CIF of imports is total of cost + all expenses till goods reached India. don't include transportation, insurance etc. between Indian custom area (inland containor depot) and factory primises .


Vinod

( Author )
22 May 2008

Thank you.


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