Hi,
I have a query..
I want t import iPad's and Android tablets from USA.
Eg. the Cost of each is US$100FOB & US$ 120CIF. (Rs.5400/-)
The accessable value will be Rs.5454/- Duty on these tablets is 14.71% (Including all CVD, SAD and Basic Duty)
The total duty payable is Rs.802/-.
So my landed cost comes to Rs.5454 + 802 = 6256/-
Is this correct?
Now, is there any addition to this in Mumbai... eg. Octroi or any other taxes ?
After this point, i propose to put an MRP of Rs.11000/- on the item and give 8% margin to dealers on the MRP, which means i will get Rs.10120 in my hand from the dealers.
The MRP obviously has VAT included (VAT being 4%), so i have to pay Rs.440 to the govt for the VAT on the sale.
So, i have now got Rs.10120 from the dealer and i have to pay Rs.440 to the govt as vat collect by me. Which leave me with Rs.9680/- in my hand.
This means my sale price after deducting all taxes is Rs.9680 and my purchase cost is Rs.6256, so my clean profit should be Rs.3424 per piece.
Please let me know if this is correct?
Thanks a ton in advance..
CAclubindia
