Regarding freight on custom duty
This query is : Resolved
22 February 2013
what is the rate of freight for the purpose of calculating assessable value for the purpose of custom duty?
Regards,
Munna.
Regards,
Munna.
23 February 2013
Assessable value means after it lands in any Indian Airport, the designated Customs officer assess the valu of the material based on the HS code and he will calculate the value of the material in Indian rupees and this value is called assessable value.
Freight can not exceed 20% of fob value of Goods as per 2nd provision of rule 10(2) of the custom valuation {determination of value of Imported Goods ,rules 2007.
Regards,
Freight can not exceed 20% of fob value of Goods as per 2nd provision of rule 10(2) of the custom valuation {determination of value of Imported Goods ,rules 2007.
Regards,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Foreign lottery ticket bought online from India: legality, tax and consequences
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Gift Received from nonblood relative
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
