assessable value

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A B B (Querist)
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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

Srikant

Srikant (Expert)
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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.

A B B

A B B (Querist)
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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