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TMI BlogFreight on ImportsX X X X Extracts X X X X X X X X Extracts X X X X ..... e.g. We are a Import of inputs for Manufacturing activity at our factory. Price = Rs.10000/- . Actual freight is given on Bill of Entry = Rs. 2500 but Ass. Value Calculated (Price 10000+Freight 2000 (20% of price)+ Insurance 113+Ladding 121) Q What concept used for freight Calculation. Please explain PRO - Reply By pradeep khatri - The Reply = Dear Sir, Freight is calc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulated as per following formula:- Actual freight or 20% of the FOB Value of the goods which ever is lower. Regards, Pradeep Khatri - Reply By Alok Kumar - The Reply = Dear Sir, Considering the existing customs valuation rules , the value of the imported goods will done in the following manner in your case :- 1) where the cost of freight/ transport is not ascertainable /(known) such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cost will be taken as 20% on the FOB value of the goods. 2) simialry loading /unloading/handling charges will be 1% on the FOB VALUE of the goods 3) and again in the similar circumstances /position the cost of insurance shall be taken as 1.125% of the FOB VALUE of the goods. it appears that the relevat documents relating to freight element was not presented before the customs assessing au ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thorities at the time of calulation of the customs duty. thanks, alok kumar - Freight on Imports - Query Started By: - P Ovhal Dated:- 29-6-2011 Customs - Import - Export - Customs - SEZ - Got 2 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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