Accounting of Import Purchases

koduri mohan (Audit-Executive) (55 Points)

02 February 2011  

Dear All,

while accounting of import purchases whether we should consider Bill Of Entry(BOE) Price or Invoice Price, If it is BOE price where we arrive Assessing Value(AV) by adding Notional Frieght Charges and Transit Insurance 1.125%, but its not actual we paid. Please suggest me  Whether i should take BOE Price Or Invoice Price and also give me necessary notes on this.

 

Thanks & Regards

Mohan Koduri

Ph No.7795113787