Is there any change in customs Act, after GST introduction in Valuation method of customs?
except sec 3(7) and sec 3(9).
2 Replies
SARATH SIVAN
(18 Points)
Replied 24 February 2018
Yes there is another major change relevent from may 18 exam. In old customs CIF value wilk be increased by handling charge @ 1. 125% now there is no such provision to handling charge and govt. is deeming such cost is included in freight charges which is calculated (if unknown) @ 20%... Update this change icai will test this in may 2018...
SARATH SIVAN
(18 Points)
Replied 24 February 2018
Yes there is another major change relevent from may 18 exam. In old customs CIF value wilk be increased by handling charge @ 1. 125% now there is no such provision to handling charge and govt. is deeming such cost is included in freight charges which is calculated (if unknown) @ 20%... Update this change icai will test this in may 2018...
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