Customs duty under the Customs Act, 1962 on the imported goods is to be paid on transaction value adjusted in accordance with provision of Rule-10 which is known as CIF value. Calculate the CIF value of the imported good
CS Executive · Tax Laws · PYQS · December 2020
Customs duty under the Customs Act, 1962 on the imported goods is to be paid on transaction value adjusted in accordance with provision of Rule-10 which is known as CIF value. Calculate the CIF value of the imported goods from the following details and information: FOB value ₹6,35,000 Air Freight ₹1,40,000 Insurance ₹3,000
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Customs Act
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