taxation
manish kumar (66 Points)
04 September 2017
difference btw transaction value nd assessable value?
manish kumar (66 Points)
04 September 2017
upasana gupta
(Finance Professional)
(3931 Points)
Replied 04 September 2017
The primary basis for customs valuation under the Agreement is “transaction value” as defined in Article 1. Article 1 defines transaction value as “the price actually paid or payable for the goods when sold for export to the country of importation.”
Assessable value is a very broad term and complicated as well because as per literal meaning it means the value upon which various duties and taxes are levied . However, if you check my link, the Asessable value is actually calculated based on varoius factors/valuation rules mentioned in the Excise Act/Rules
upasana gupta
(Finance Professional)
(3931 Points)
Replied 04 September 2017
The primary basis for customs valuation under the Agreement is “transaction value” as defined in Article 1. Article 1 defines transaction value as “the price actually paid or payable for the goods when sold for export to the country of importation.”
Assessable value is a very broad term and complicated as well because as per literal meaning it means the value upon which various duties and taxes are levied . However, if you check my link, the Asessable value is actually calculated based on varoius factors/valuation rules mentioned in the Excise Act/Rules
upasana gupta
(Finance Professional)
(3931 Points)
Replied 04 September 2017
The primary basis for customs valuation under the Agreement is “transaction value” as defined in Article 1. Article 1 defines transaction value as “the price actually paid or payable for the goods when sold for export to the country of importation.”
Assessable value is a very broad term and complicated as well because as per literal meaning it means the value upon which various duties and taxes are levied . However, if you check my link, the Asessable value is actually calculated based on varoius factors/valuation rules mentioned in the Excise Act/Rules
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