Duty calculation
This query is : Resolved
SHYAMLAL KAYYARUVATH
(Querist)
23 January 2012
DEAR SIR,
WE ARE IMPORTER OF HEAVY MELTING MILD STEEL SCRAP.WE HAVE BEEN IMPORTING HMS @350 $ PER TON(AS PER SUPPLIERS INVOICE)BUT THE CUSTOMS DUTY IS CALCULATED ON 490$ NOW WE NEED TO DOWN LOAD 8FA FROM SALES TAX SITE AND WANT TO SPECIFY THE VALUE ON 8FA.THEN HOW CAN WE CALCULATE THE VALUE.IF U ADVICE ME TO CALCULATE ON THE BASIS OF CUSTOMS VALUE(ON BILL OF ENTRY)THEN HOW CAN I TALLY THE SUPPLIERS LEDGER WITH OUR LEDGER.NOW SALES TAX AUTHORITY(CHECK POST)FORCING US TO CALCULATE ON THE BASIS OF BILL OF ENTRY VALUE ie.490+DUTY+FREIGHT. CAN ANYBODY GIVE THE CORRECT GUIDELINES.
WE ARE IMPORTER OF HEAVY MELTING MILD STEEL SCRAP.WE HAVE BEEN IMPORTING HMS @350 $ PER TON(AS PER SUPPLIERS INVOICE)BUT THE CUSTOMS DUTY IS CALCULATED ON 490$ NOW WE NEED TO DOWN LOAD 8FA FROM SALES TAX SITE AND WANT TO SPECIFY THE VALUE ON 8FA.THEN HOW CAN WE CALCULATE THE VALUE.IF U ADVICE ME TO CALCULATE ON THE BASIS OF CUSTOMS VALUE(ON BILL OF ENTRY)THEN HOW CAN I TALLY THE SUPPLIERS LEDGER WITH OUR LEDGER.NOW SALES TAX AUTHORITY(CHECK POST)FORCING US TO CALCULATE ON THE BASIS OF BILL OF ENTRY VALUE ie.490+DUTY+FREIGHT. CAN ANYBODY GIVE THE CORRECT GUIDELINES.
RAMESH KUMAR VERMA
(Expert)
24 January 2012
READ LINK CAREFULLY, THEN AFTER PUT UP QUERY,
https://www.ieport.com/cus2001/Circulars/cir07.htm
https://www.eximguru.com/indian-customs-duty/default.aspx
https://www.ieport.com/cus2001/Circulars/cir07.htm
https://www.eximguru.com/indian-customs-duty/default.aspx
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