Dear Sir
Custom duty is levied on cotton at 5% in place of present of 0%. All specified it will attract agriculture infrastructure and development cess at the rate of 5%.
Cess is to be calculated on 5% of custom duty i.e., 5.25% OR it is 10 % (5% customs duty+5% agriculture infrastructure and development cess)
thanks in advance
The Agriculture Infrastructure and Development Cess (AIDC) is calculated as a percentage of the assessable value of the imported goods. It is an independent levy and is not calculated as a percentage of the customs duty itself.
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
N J Suresh & Associates
Bengaluru
CA Inter
View Details
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
View Details
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
CCI
Pro
CAclubindia
