import duty query

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 January 2011 Hi,
My import duty query is as follows:
1) On what value is the customs duty calculated? Is it the invoice value or the market value of the product? What are the elements included in the finale value on which the duty is calculated?
2) If the container has the main product with other free product(Consumer offer.Printed on the pack. Not free for me) what value shall be considered to calculate the duty?
3) What part of the duty can be claimed?
Answer to this or a point in the right direction much appreciated.
thanks

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

22 January 2011 AS PER INVOICE VALUE *CURRENT EXCHANGE RATE.

please noted that :-

FOR CALCULATING THE TOTAL CUSTOM DUTY , LET LANDED VALUE OF AN ITEM IS RS.1000 THE DUTY WILL BE WORKED OUT AS UNDER EXAMPLE:-

LANDED VALUE (C.I.F) =RS. 1000
BCD=10% OR 1000*10/100 =RS.100
LANDED COST= RS.1100
CVD@10%=3%CESS(2%EDU CESS+1%S&H edu. cess = 113.30110+3.30

custom duty without education cess =100+113.30=213.30
total cess(customs) will be Rs. 6.399(i.e.3% of 213.30)

additional duty (ACD)4% =
(1000+213.30+6.399)*4%=48.787

total custom duty =213.30+rs.6.399+48.787=268.486

for more info link is :-
https://www.caclubindia.com/share_files/files_download.asp?files_id=19008

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)

22 January 2011 THX FOR PUT UP UR QUERIES IN THE CA CLUB INDIA.

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