assessable value

1987 views 2 replies

If the item purchased received in India after certain no of years (Say 2 Years). Then what will be the assessable value?

 

1)      CIF + Landing Cost – Depreciation for 2 years

2)      CIF + Landing cost

3)      CIF + Landing cost OR fair value whichever is higher

4)      Or none of the above

Replies (2)

DEAR ABB JI,

 

ASSESSABLE VALUE MEANS AFTER IT LANDS IN ANY INDIAN AIRPORT, THE DESIGNATED CUSTOMS OFFICER ASSESS THE VALUE OF THE MATERIAL BASED ON THE ITC HS CODE &  HE WILL CALCULATE THE VALUE OF THE MATERIAL IN INDIAN RUPEES AND THIS VALUE IS CALLED ASSESSABLE VALUE, SO THAT BASED ON THIS VALUE THE CUSTOMS DUTY, CVD AND OTHER STATUTORY CHARGES ARE COLLECTED

WHAT IS YOUR QUERY NOW.

REGARDS

So do you mean that they will not consider depreciation? Even it has been received after 2 years?

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 July 2026
Senior Executive/ Manager

H S SHARMA AND CO

Pune

CA Final

View Details
Company
Featured 18 July 2026
CA Articleship

apricus india

Mumbai

CA Inter

View Details
Company
23 July 2026
Semi qualified CA

Garg Bros & Associate CA

New Delhi

CA Inter

View Details
Company
22 July 2026
Senior Chartered Accountant

SKSS

Patna

CA

View Details
Company
29 July 2026
Audit Executive

RBSM Corporate Advisors Private Limited

Pune

CA

View Details
Company
ARTICLESHIP 15 July 2026
CA Articles

Kinjal H Shah & Co.

Mumbai

CA Foundation

View Details
Company
ARTICLESHIP 16 July 2026
CA Article

Pipara & Co. LLP.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details