Calculate the assessable value (rounded off to nearest one rupee) under the Customs Act, 1962 with appropriate working notes form the following…

Calculate the assessable value (rounded off to nearest one rupee) under the Customs Act, 1962 with appropriate working notes form the following particulars related to import of a machine (by sea) by Daksh Industries from USA in the month of October 2023: S. No. Particulars Amount (i) Cost of machine at the port of exportation US $ 8,200 (ii) Freight from port of export to port of import US $1,800 (iii) Daksh Industries had paid to seller the cost for packing (not as condition of sale but included in cost of machine at point (i) above) US $ 400 (iv) Actual selling commission paid by Daksh Industries to local agent of exporter. 20,000 (v) Actual insurance charges paid are also not ascertainable. - (vi) Ship demurrage charge paid by Daksh Industries at port of importation. 15,000 (vii) Engineering charges paid by Daksh Industries to consultancy firm in Mumbai as a condition of sale. 1,25,000 Note: (i) Rate of exchange to be considered 80for one US $ (ii) Relevant legal reasoning should form part of your answer.