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IMPORT DUTY ACCESSMENT

Import / Export 166 views 1 replies

sumit rungta

3 Points Joined June 2017

PLEASE TELL ME HOW GST WILL BE CALCULATED ,

WHEN TRANSACTIONAL VALUE IS LOWER THAN ACCESSABLE VALUE ( LIKE COMMERCIAL INVOICE IS OF $900 PER TONN, WHEREAS CUSTOM CLEARENCE IS OVER $1400/TONN)

Replies (1)

nirmalbhai thakker

117 Points Joined June 2017

it should be on transaction value. But u should also keep in mind the valuation rules also. If supplier and importer both are related person, than RCM will apply on fair market price.