16 September 2016
Dear Sir / Madam,
I have no idea about total calculation of my goods because of I am new in import business, so I want to calculate every steps.
Let me clarify, I will purchase a product from Germany and seller give me € X CNF price (suppose €5000) then how much I have to pay in Germany and in India, there is total 24% duty, so how much I have to pay in India?
Thank you for your time. Your answer is quite helpful for my business.
16 September 2016
According current International commercial terms there is no CNF. It is CFR ( Cost and Freight). CFR + 1.125% (Insurance) will be CIF price. On CIF price add 2% landing charges. Then it becomes assessable value. On assessable value apply the duties.
CAclubindia
