Question

An Indian trader of Delhi imported 50 computers from a company of
America at 500 Dollars per computer for resale on 18th Jan. 2020.
Other information is as under :
(1) Transportation charges from America to Indian part, 200 Dollars.
(2) Transit insurance premium 50 Dollars
(3) Packing charges 20 Dollars per computer
(4) 5% commission on selling price to agent in India of American
company.
(5) Transportation expenses from Indian part to Delhi Rs. 5,000.
(6) Octroi paid in Delhi Rs. 4,000.
Compute assessable value to determine Customs Duty.
Prescribed exchange rate declared by Control Board of Excise and
customs is 1 Dollar = Rs. 42.
Compute customs duty payable if basic rate is 10% and 10%
social welfare surcharge is payable in India. GST for manufacturing
supply of computers @ 12%.​

Answer 1

Answer:

India of American

company.

(5) Transportation expenses from Indian part to Delhi Rs. 5,000.

(6) Octroi paid in Delhi Rs. 4,000.

Compute assessable value to determine Customs Duty.

Prescribed exchange rate declared by Control Board of Excise and

customs is 1 Dollar = Rs. 42.

Compute customs duty payable if basic rate is 10% and 10%

social welfare surcharge is payable in India. GST for manufacturing

supply of computers @ 12%.