Question

Section (Unit 06-10 Subjectivej 12 of 12
Question : 2 of 2
Marks for this Question : 10
Answer the following question
Answer any 1
Question 8: (a) An Indian dealer imported 50 machines from USA @ 320 dollars per machine. However, th
1. Packing Charges 20 dollars per machine
2. Transportation charges to Indian Port 200 dollars
3. Transit Insurance premium 40 dollars
4. Brokerage (excluding buying commission) 70 dollars
The dealer incurred the following expenses after delivery at the port
1. Transportation charges from port to his godown Rs. 4,000
II. Insurance premium Rs. 200
III.
Octroi Rs. 3,000.
Compute the assessable value as per custom act. Exchange rate is 1 dollar = Rs. 72
Question 8 (b): Discuss the nature and scope of customs law in India.

Answer 1

Explanation:

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