Compute the total customs duties and integrated tax payable based on the following information: Sl. No. Particulars US $ (i) FOB value of solar cells 1,000 (ii) Freight from the exporting country 250 (iii) Insurance 10 (

Computation of customs duty and integrated tax payable Particulars Amount (US $) FOB value of solar cells 1,000 Freight from the exporting country [Note 1] 200 Insurance 10 Buying commission [Note 2] CIF Value 1,210 Particulars Amount (₹) CIF Value (1210*70) [Note 3] 84,700 Basic Customs Duty 5% [Note 4] (A) 4,235 Safeguard duty 70% [Note 5] (B) 59,290 Social welfare surcharge [Note 6] (C) 423.5 Total 1,48,648.5 Integrated tax leviable at 5% (1,48,648.5*5%) [Note 7] (D) 7,432.4 Total Customs duty payable (rounded off) [A+B+C+D] 71,381 Notes: Actual freight incurred or 20% whichever is less has to be adopted when the import is by air (Assumed). If it is assumed that goods are imported by any mode other than by air then full value of freight US $ 250 shall be included in assessable value. "Buying commission" is not included in the assessable value as it is the amount paid by importer to his agent [Any amount paid to exporter directly or indirectly is only included]. Rate of exchange notified by CBIC on the date of presentation of the bill of entry is considered. Rate of duty is the rate prevalent on the date of presentation of bill of entry or the rate prevalent on the date of entry inwards whichever is later (Section 15 of Customs Act, 1962). Safeguard duty has to be applied on the CIF Value. Social welfare surcharge is levied @ 10% on Basic Custom Duty only. Integrated tax is levied on the sum total of the assessable value of the imported goods, customs duties and applicable Social Welfare Surcharge. Integrated tax rate is assumed to be 5%.