Doubt in idt- customs, ca final

Nishant (Accounts Assistant) (378 Points)

06 March 2014  

Hi, as we all know that while calcculting Assessable Value in customs we always include

'Landing Charges @ 1%' as per Rule 10 (1) , even if the Question  does not mention anything about it .

So , simialrly  should we also

A ) Include 'Insurance Charges' by default @ 1.125% of F.O.B.  while calculating Assessable Value , even if the question does not mention anything about Insurance Charges

OR

B)is it that we must include it only when there is a statement in the Question as follows :"Insurance Charges are not ascertainable".

 

Pl reply as to whether we must follow A) or B)