Have a doubt.

This query is : Resolved

surya (Querist)
Follow

19 December 2013 If in question , landing charges are given Rs 1000. What should i do ,should i take Rs 1000 or 1% on CIF?

customs duty calculation.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

20 December 2013 Mr. Surya,

assume if CIF VALUE is 10,000

THEN ASSESSABLE VALUE WILL BE 1% OF CIF VALUE

i.e =rs.100

in your case YOUR CIF VALUE IS =100000
ASSESSABLE VALUE WILL BE 1% OF CIF(1000)

Regards,

surya

surya (Querist)
Follow

20 December 2013 but FOB price is given, air freight is also given.Later insurance 1.125% will be taken on FOB. After that only the question of landing charges arises. ie the above question.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

21 December 2013 formula is calculating for FOB = c.i.f(-)freight

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok