Import vat returns

sir,

plnote that u hv  to show the  actual cost of the product to the assessable value on which u are going to charge vat/cst accourding the percentage. so, in this case u have to take the assessable value of 12000 $ (FOB)*   rate multiplied with the rate of conversion the the date of clearence(not on rs.64 but it may vary from thedate of intimation to date of clearing,) and cost of clearing forwarding charges customs duty paid and the local freight andinsurasnce  to reach the material upto toyour godown.

12000  $   *   say 64.5

C Duty   say   12.5%

Cess//Shecess   3%  on 12.5%

Clearing forw chgs     x

freight to port to godown   x

insurance (if FOB)           x

total will be assable value for vat/cst

charging vat or cst on the above.

with regards

p.r.ganesh

thanks for u r reply

pls clarify this doubts

on what basis i had to charge vat

asseable value+ c duty+other expenses

or

decalred value + c duty + other expenses

with out selling the goods my account books will show the profit of 20%

awaiting for ur early reply

can u pls justify regarding this matter