Regarding freight on custom duty
This query is : Resolved
CA munna singh
(Querist)
22 February 2013
what is the rate of freight for the purpose of calculating assessable value for the purpose of custom duty?
Regards,
Munna.
Regards,
Munna.
RAMESH KUMAR VERMA
(Expert)
23 February 2013
Assessable value means after it lands in any Indian Airport, the designated Customs officer assess the valu of the material based on the HS code and he will calculate the value of the material in Indian rupees and this value is called assessable value.
Freight can not exceed 20% of fob value of Goods as per 2nd provision of rule 10(2) of the custom valuation {determination of value of Imported Goods ,rules 2007.
Regards,
Freight can not exceed 20% of fob value of Goods as per 2nd provision of rule 10(2) of the custom valuation {determination of value of Imported Goods ,rules 2007.
Regards,
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