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Customs Valuation

Megha.B ( -) (72 Points)

03 October 2018

If loading charges are not given, should we consider 1% of CIF to be included in value. As per notification no. 91/2017 based on Wipro case, actual landing charges and not notional charges should form part of AV.

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3 Replies

CA Sunil Kumar (Chartered Accountant) (4514 Points)
Replied 03 October 2018

If loading charges cannot be ascertain, then In light of the Supreme Court’s decision, the existing provisions of the Customs Valuation Rules, 2007 providing for 1% handling charges.
In other case, actual loading charges.

Megha.B ( -) (72 Points)
Replied 03 October 2018

Sir, Rule 10(2) substituted by new rule states that landing charges to be added to value of goods should be based on actual charges incurred and not a notional charge of 1%. Does this mean that notional charge of 1% need not be added to arrive at CIF?