FOB VALUE

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2010 A EXPORTER MENTION IN THE EXPORT INVOICE FOB VALUE + FRIEGHT IN FOREIGN CURRENCY AND TOTAL AMOUNT IS CIF VALUE.
NOW I WANT TO KNOW THAT
IF THE EXPORTER PAYS LESSER AMOUNT IN ACTUAL TO FREIGHT
WHEATHER THAT LESSER AMOUNT WILL BE DEDUCTED TO CALCULATE THE FOB VALUE OR AMOUNT MENTION IN INVOICE WILL BE DEDUCTED
ALSO WHEATHER FORIEGN BANK CHARGES DEDUCTED IN FOREIGN CURRENCY WILL BE DEDUCTED WHILE CALCULATING FOB VALUE
EXAMPLE
FOB VALUE 32000 USD
FREIGHT 500 USD
TOTAL CIF VALUE 32500
ACTUAL FREIGHT PAID RS. 15000 = 300 USD
AMOUNT RELIASED 32400 USD
FBC DEDUCTED 100 USD
WHAT WOULD BE THE FOB VALUE

Tilak Agrawal

Tilak Agrawal (Expert)
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12 November 2010 In my Opinion 32000 USD

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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12 November 2010 DEAR ANONYMOUS,
AS LONG AS THE PARTY MENTIONED THE CIF VALUE (32500) AS PER COLUMN NO. 9 OF BRC AND COLUMN NO.10 MUST WRITE WHICH IS MENTIONED IN SHIPPING BILL.

C&F AMOUNT WILL BE (-) FREIGHT = FOB
32500(-) WHICH AMOUNT MENTIONED IN SHIPPING BILL.

attention please After CHECKING THE BRC THE INCENTIVE OF DEPB OR DRAWBACK IN COLUMN NO.14. OF BRC WILL BE (FOB VALUE) . & benefit will be admissible on this amount.

IF (FC)32500 USD & AMOUNT RELEASED 32400 USD AS PER COMPARRISION FROM BRC THE BENEFIT WILL BE ON USD 32400.

REGARDS,

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