Dear All,
Please help me resolve this problem.
We imported some goods this month from US.But I am not able to track the method to calculate the assable value mentioned in the BOE.
For Example the Item Cost is 47.7USD,and 60 Qty
Invoice Nalue:5234.00 USD
Misc.Charges:1525.00USD
Exchange Rate :1.00USD=54.65INR
They got Assessable Value as 203999.87INR
I am not from commerce background.Please help me.
There is a different exchange rate for customs. check their rates. Others workings must be good.
| Originally posted by : P B Srivathsan | ||
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There is a different exchange rate for customs. check their rates. Others workings must be good. |
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No SIr.This exchange rate is mentioned in the BOE.
Here is the derivation I got. Sorry, I am not in a position to explain your data without viewing the BOE
A - Invoice Value = 5234
B - Misc Charges = (1525)
(A-B) - Net Value = $ 3709
In INR 3709 x 55 = INR 203995
Assesable value is the landed cost. You have add actual freight,insurance and handling charges. If the import invoice shows the above charges actualls are added by customs. Otherwise you have submit bills to substantiate your actual expenses. If these are not mentioned in invoice and also you donot submit actual bills, then these expenses are added on presumtive basis
CAclubindia
