Dear Fellow Final Students,
Did any one of you get a chance of going through the new Practice Manual Customs valuation Chapter?
I mean, in case of Air Freight sums, the calculation is different compared to the previous PM's. What they have done is instead of taking limit of 20% on FOB Value, they have taken 20% on FOB Value as per Customs(i.e. FOB+ Design and Development Charges).
You can look at Question No: 12 and Question 19 of PM customs valuation.
Can someone please tell me as to how we are supposed to do these sums?Why did they change the method?
CAclubindia
