Assessable Value
This query is : Resolved
22 November 2010
Dear Experts,
For the purpose of Custom duty calculation assessable vale = Total Value *1%(It's called Customs handling charges),
Total Value = CIF value + Freight amount + Insuetnce + eny othe Origin handling charges (If any)
1. 1% Custom handling charges is Expence for Importer or Deemed expence?.
2. If it is excepence this charges need to consider in Total landed cost?.
For the purpose of Custom duty calculation assessable vale = Total Value *1%(It's called Customs handling charges),
Total Value = CIF value + Freight amount + Insuetnce + eny othe Origin handling charges (If any)
1. 1% Custom handling charges is Expence for Importer or Deemed expence?.
2. If it is excepence this charges need to consider in Total landed cost?.
30 November 2010
yes, 1% is added for port facilities . once your invoice is cif than only 1% landing charges is added for calculation of duty unless and until your invoice is fob than freight and insurance is added
21 December 2010
Dear Sir, Its Ok.
Supose
CIF Val 100
Ass. Val.101
Diff.Re.1
Qustion is Re.1 is the expences/ Deemed expenses for the company(Importer)
Supose
CIF Val 100
Ass. Val.101
Diff.Re.1
Qustion is Re.1 is the expences/ Deemed expenses for the company(Importer)
21 December 2010
no it is only for calculation purpose
rgds
ashok saini
rgds
ashok saini
21 December 2010
Fine.
Thank you
Best regards,
Ebi
Thank you
Best regards,
Ebi
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- GST ISD Query on various AMCs
- Missed TDS
- Rent claimed on building given on permissive possession basis
- F&O reporting in ITR
- ITR 44AD SECTION
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- Taxation on Old jewellery sold
- Query regarding reporting of exempt foreign remuneration in ITR
- Gst reverse charge mechanism to be claimed in the month of payment
- Itr processing refund
- U/S 194 T
- TDS refund Indemnity Bond
- ITC BENEFIT ON BROKRAGE PAID
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
