assessable value
This query is : Resolved
13 July 2010
If the item purchased received in India after certain no of years (Say 2 Years). Then what will be the assessable value?
1) CIF + Landing Cost – Depreciation for 2 years
2) CIF + Landing cost
3) CIF + Landing cost OR fair value whichever is higher
4) Or none of the above
1) CIF + Landing Cost – Depreciation for 2 years
2) CIF + Landing cost
3) CIF + Landing cost OR fair value whichever is higher
4) Or none of the above
13 July 2010
After 2 years it is received in India ????
For 2 Years where it was??
Was it being used by the buyer,,but out side India.........?
Whether this is Capital goods or accessories or normal trading goods.????
Several Questions are there.
Still from a general point of view the answer is CIF + Landing Cost
But the CIF value shall be determined by the Exchange rate on the on which BOE is produced.
For 2 Years where it was??
Was it being used by the buyer,,but out side India.........?
Whether this is Capital goods or accessories or normal trading goods.????
Several Questions are there.
Still from a general point of view the answer is CIF + Landing Cost
But the CIF value shall be determined by the Exchange rate on the on which BOE is produced.
13 July 2010
It is capital goods. What if following Situation:
1. Due to some reason could not brought to India
2. Used by buyer
1. Due to some reason could not brought to India
2. Used by buyer
Ashok Asthana
(Expert)
04 June 2011
CIF+landing cost on the date of receipt in India. You can not claim depreciation as the goods were not being used by you.
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
