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How to calculate the assessable value in boe?

3667 views 4 replies

mogaveera

accountant

33 Points Posted on 27 May 2013

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.

Replies (4)

P B Srivathsan

Audit Manager

189 Points Posted on 27 May 2013

There is a different exchange rate for customs. check their rates. Others workings must be good.

mogaveera

accountant

33 Points Posted on 28 May 2013

Originally posted by : P B Srivathsan
	There is a different exchange rate for customs. check their rates. Others workings must be good.

No SIr.This exchange rate is mentioned in the BOE.

P B Srivathsan

Audit Manager

189 Points Posted on 28 May 2013

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

CA Viswanadh

Chartered Accountant

190 Points Posted on 11 June 2013

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