In determination of FOB value of import what is the presumptive rate of cost of transport, if the actual cost is not ascertainable ?

CS Executive · Tax Laws · PYQS · June 2021
In determination of FOB value of import what is the presumptive rate of cost of transport, if the actual cost is not ascertainable ?
(A) 10% of CIF Value
(B) 20% of FOB Value
(C) 20% of CIF Value
(D) 5% of FOB Value

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Customs Act

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