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Valuation of closing stock of imported goods

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2013 I have imported the goods of Rs.100(10 units) and paid custom duty Rs.28(As per custom Tariff) and till 31st March,2013 i have sold 8 units and 2 units are left as closing stock ,while doing valuation whether i will include the custom duty or not, I have done the valuation as under ;

Cost of goods Purchase

Basic Cost =100 (For Ten Unit)
Duty Cost = 28 (For Ten Unit)
Insurance & Freight = 8(For Ten unit)
CHA & Other charges = 5 (For Ten Unit)
Total Cost =141 for Ten Unit
Per unit cost is Rs.14.10

So unsold goods was 2 unit and valuation is 14.10 X 2 = 28.20
Please advise whether my valuation correct or I have to exclude the custom duty.
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Rupesh Jain

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Rupesh Jain (Expert)
20 June 2013 if you take credit of custom then no addition of custom duty in inventory
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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2013 We are the trader and we are passing on the duty in sales invoice




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