Hai friends,
Can please anyone tell me at what rate of duty should i assess for Basic customs duty and CVD for these two goods :
The under mentioned goods are imported :
1. Micro motors - Value in FOB 10,000$.
2.Soldering Irons and Guns - Value in FOB 5000$. other factors, Air freight 400$. Rate of exchange 1$=Rs.50. Customs duty - 10% Advalorem, CVD - 16% Advalorem. Education cess as applicable. Effective rate of duty on Soldering irons and guns through a customs notification is 5%.

I Just Want To Opine On The Answer Given By Ram Avatar Singh On The Question When To Book Import Purchase?/

In My Opinion It Should On Date Of Commercial Invoice Not At The Time Of Recival Or Payment.

sir,

Wht is the use Of DEPB licence.

how to earn DEPB on export if the company has not any import so how can we use of DEPB.

when we shown (under the which a/c head) the DEPB credit in balance sheet or p& l a/c.

plz give me explanation about DEPB, its utilisation and accounting.

Mitesh

We import inputs under advance license and these inputs are consumed for manufacturing of both Domestic and export . Custome Duty is not paid but we pay CVD & SAD and for same cenvat credit is taken.
Should we keep separate records or how much duty (Custom Duty, CVD & SAD)do we require to pay to conume it for domestic purpose.

urgent reply reqd

thanks

Dear sir,
can i keep cash with me us in my house, where all the tax paid income of previous years are accumulated?

What is the meaning of G/R Waiver in case of export/import?

What is advance licence redemption procedure

regards

what is the full form of CST NO. & meaning ,uses & benefit of it? To what kind of companies it is applicable?

In the Drawback schedule some time only two digit chapter heading is given and sometime four/six/eight digit Tariff Item is mentioned. Does it mean that wherever only two digit chapter heading is mentioned in tariff item column then all the items of that chapter are covered for All Induustry Rate of Duty Drawback? Is there any clarification/ circular available?

WHAT IS THE FULL FORM OF LC & MEANING OF IT AND WHEN IT IS APPLICABLE ?