taxation
manish kumar (66 Points)
04 September 2017
difference btw transaction value nd assessable value?
4 Replies
upasana gupta
(Finance Professional)
(3931 Points)
Replied 04 September 2017
The primary basis for customs valuation under the Agreement is “transaction value” as defined in Article 1. Article 1 defines transaction value as “the price actually paid or payable for the goods when sold for export to the country of importation.”
Assessable value is a very broad term and complicated as well because as per literal meaning it means the value upon which various duties and taxes are levied . However, if you check my link, the Asessable value is actually calculated based on varoius factors/valuation rules mentioned in the Excise Act/Rules
upasana gupta
(Finance Professional)
(3931 Points)
Replied 04 September 2017
The primary basis for customs valuation under the Agreement is “transaction value” as defined in Article 1. Article 1 defines transaction value as “the price actually paid or payable for the goods when sold for export to the country of importation.”
Assessable value is a very broad term and complicated as well because as per literal meaning it means the value upon which various duties and taxes are levied . However, if you check my link, the Asessable value is actually calculated based on varoius factors/valuation rules mentioned in the Excise Act/Rules
upasana gupta
(Finance Professional)
(3931 Points)
Replied 04 September 2017
The primary basis for customs valuation under the Agreement is “transaction value” as defined in Article 1. Article 1 defines transaction value as “the price actually paid or payable for the goods when sold for export to the country of importation.”
Assessable value is a very broad term and complicated as well because as per literal meaning it means the value upon which various duties and taxes are levied . However, if you check my link, the Asessable value is actually calculated based on varoius factors/valuation rules mentioned in the Excise Act/Rules
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