The Importers invoice is as follows :
Raw Material Cost $ 1,00,000.00
Air Freight $ 50,000.00
CFR Chennai Air Port $ 1,50,000.00
Let me know the Customs calculation in this regard.
Air Freight Restriction of 20% is for both FOB and CIF or only for FOB Imports. Our C&F is claiming that that restriction is only for FOB imports and not for CIF imports? Is he Correct ?
Please clarify in this regard. Thanks in this regard.