Ascertain the total value including the import duty and other chargeable taxes paid on the consignment of Pan Masala imported into India by ABC Imports Limited. CIF value of the consignment is of ₹1,00,000 on which charg
CS Executive · Tax Laws · PYQS · December 2020
Ascertain the total value including the import duty and other chargeable taxes paid on the consignment of Pan Masala imported into India by ABC Imports Limited. CIF value of the consignment is of ₹1,00,000 on which chargeable rate of Basic Custom Duty is 37.5%, IGST is 28% and Compensation Cess is 60%.
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Customs Act
Related Questions in this Topic
- The drawback allowed for goods if returned after using of goods more than 12 months but less than 15 months is:
- Priya Co. Ltd. imported goods from a foreign country and the goods were kept in the private warehouse licensed under sec...
- FG Co. Ltd. imported goods and paid customs duty earlier. In which of the following situation it can seek refund of impo...
- How much a male passenger residing abroad for the last 3 years could bring gold jewellery under duty-free baggage allowa...
- When the goods consist of more than one material or substance, then the heading which provides the most specific descrip...