Cvd calculation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2012 we got a purchase invoice there they mentioned unit rate rs .20924 and quantity 1 no.s rate of duty that is CVD 10%+4% and answer is 624.46+276.81 please provide how the working shall be done

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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22 February 2012 Additional duty (CVD) is calculated as a percentage of the aggregate of CIF value plus Basic duty. For example, if Basic Duty is 35%, Surcharge 10% of basic duty, the CVD at a rate of 16% on a CIF value of Rs. 100 would be:-
CVD = (100 + 35 + 3.5) x = Rs. 22.160

3. Special Additional Duty @ 4% would be:
(100 + 35 + 3.5 + 22.160) x = Rs. 6.426

4. Total Duty would be:
35 + 3.5 + 22.160 + 6.426 = Rs. 67.086

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Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2012 thanks ,
but in that invoice only they mentioned CVD i.e 10%+4% and they got amount of duty per unit rs 624.46+276.81 i am not getting this on rs.20924

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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23 February 2012 in this case u can confirm the concerned party.......

regards,

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