assessable value

If the item purchased received in India after certain no of years (Say 2 Years). Then what will be the assessable value?

 

1)      CIF + Landing Cost – Depreciation for 2 years

2)      CIF + Landing cost

3)      CIF + Landing cost OR fair value whichever is higher

4)      Or none of the above

Replies (2)

DEAR ABB JI,

 

ASSESSABLE VALUE MEANS AFTER IT LANDS IN ANY INDIAN AIRPORT, THE DESIGNATED CUSTOMS OFFICER ASSESS THE VALUE OF THE MATERIAL BASED ON THE ITC HS CODE &  HE WILL CALCULATE THE VALUE OF THE MATERIAL IN INDIAN RUPEES AND THIS VALUE IS CALLED ASSESSABLE VALUE, SO THAT BASED ON THIS VALUE THE CUSTOMS DUTY, CVD AND OTHER STATUTORY CHARGES ARE COLLECTED

WHAT IS YOUR QUERY NOW.

REGARDS

So do you mean that they will not consider depreciation? Even it has been received after 2 years?

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

Jain Ankit and Co

Gurgaon

CA Inter

View Details
Company
19 August 2026
Chartered Accountant - Financial Consolidation & Reporting

Synergy Keystone

Mumbai

CA

View Details
Company
14 August 2026
Semi Qualified

Goyanka & Associates

New Delhi

CA Inter

View Details