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An Indian importer import raw materials for 5,000 dollars
in March 2020, following informations are available :
(i) Packing charges of goods 120 dollars.
(ii) Goods were stuffed in container (returnable) price of
container is 400 dollars.
(iii) Insurance premium 50 dollars.
(iv) Sea freight 160 dollars.
(v) Importer had paid commission of 100 dollars to a
broker who arranged the transaction
(vi) Dollar rate is 3 42.38 1 dollar.
(vii) Basic customs duty is 10% and social welfare
surcharge @ 10%.
(viii) 12% GST is payable for such goods in India.
Find out the assessable value of imported goods and
customs duty payable.
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