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custom sum

CS Vijay Daxini (At Practice) (732 Points)

02 August 2010

landed value(CIF 550000

custom duty @ 16

countervailing duty @ 16

education cess @ 2

what is the amt of education cess....plz. give cal. in detail

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8 Replies

RAMESH KUMAR VERMA ( CS PURSUING ) (43853 Points)
Replied 03 August 2010

CVD Cess (Educational Cess 2% + Higher Educational Cess 1%)		2.00%		2,062.02
BCD Cess (Educational Cess 2% + Higher Educational Cess 1%)		1.00%		1,940.43

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vivek (CS) (751 Points)
Replied 03 August 2010

Upto my understanding you have given CIF value in this 1% Landing cost will be included then BCD and CVD will be calculated and then CVD cess @ 3% will be calculated and then addtion of all BCD cess @ 3% will be calculated.

CVD Cess= 3093.02

BCD Cess=5852.21

But if you have provided the landed cost, then the value will be-

CVD Cess=3062.40

BCD Cess=5794.27

But wait for the experts comment,

Regards,

CS Vijay Daxini (At Practice) (732 Points)
Replied 03 August 2010

in the question it is given that landed value(cif)

Akhil Gupta (Manager F&A) (856 Points)
Replied 03 August 2010

Assessable Value		550,000.00
BCD	16.00%	88,000.00
CVD	16.00%	102,080.00
Cess on CVD	2.00%	2,041.60
Cess on CVD	1.00%	1,020.80
Total		193,142.40
Cess on BCD	2.00%	3,862.80
Cess on BCD	1.00%	1,931.40
Total		198,936.60
Total		748,936.60
Additional Duty	4.00%	29,957.50
Total Duty		228,894.10

Attached File : 59 cutom duty calculation.xls downloaded: 198 times

CS Vijay Daxini (At Practice) (732 Points)
Replied 03 August 2010

thxs to all of u my dear friends for u r support

regards

vijay

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RAMESH KUMAR VERMA ( CS PURSUING ) (43853 Points)
Replied 03 August 2010

Respected vivek ji,

your statement is right i have add the 1% landing cost and if i not the add then the calculation will:-

Ass Value 550000.00

BED @ , 16%, 88000.00

CVD, @ , 16%, 102080.00

Edu Cess, 2%, 2041.60

S&H Cess, 1%, 1020.80

Cess, 2%, 3862.85

S&H, 1%, 1931.42

ADDL Duty, 4%, 29957.47

Customs Duty:-228894.14

RAMESH KUMAR VERMA ( CS PURSUING ) (43853 Points)
Replied 03 August 2010

KIND ATTN:- VICKY9384,

MR. VIVEK JI, & MR. AKHIL GUPTA JI,

VALUE MATCH WITH ME .

REGARDS

Akhil Gupta (Manager F&A) (856 Points)
Replied 03 August 2010

@ Ramesh Kumar Verma Ji, I have already attached the excel file with formula with the help of this file value of custom duty can be arrived easily. You can check the file and formula in it, your suggestion for futher improvement in this file is highly solicited.