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Land Cost

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 March 2011 what is the meaning of Land Cost?
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RAMESH KUMAR VERMA

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RAMESH KUMAR VERMA (Expert)
23 March 2011 it means “landed value” , the assessable value as determined under the Customs Act, 1962 (52 of 1962) and includes all duties of customs except duties levied under sections 3, 3A, 8B, 9 and 9A of the said Customs Tariff Act;

this becomes 1% of the invoice value.
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RAMESH KUMAR VERMA

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RAMESH KUMAR VERMA (Expert)
23 March 2011 for example,

if cif value is in usd 10000
usd exchange rate for import is :-rs. 49.00
then landing charge will be,

10000*49=490000.00
1%landing cose=490000*1/100
=49000
for more understand:-

https://www.plastemart.com/conversion.asp
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