For the purpose of Custom duty calculation assessable vale = Total Value *1%(It's called Customs handling charges), Total Value = CIF value + Freight amount + Insuetnce + eny othe Origin handling charges (If any)
1. 1% Custom handling charges is Expence for Importer or Deemed expence?.
2. If it is excepence this charges need to consider in Total landed cost?.
30 November 2010
yes, 1% is added for port facilities . once your invoice is cif than only 1% landing charges is added for calculation of duty unless and until your invoice is fob than freight and insurance is added
CAclubindia
