Determine the total duties payable under the customs law if Mr. Gaurishankar imported rubber from Malaysia at landed price (exclusive of duties) of…
CA Final · Indirect Tax Laws · MTP · November 2024
Determine the total duties payable under the customs law if Mr. Gaurishankar imported rubber from Malaysia at landed price (exclusive of duties) of 25 lakh. It has been notified by the Central Government that share of imports of rubber from the developing country against total imports to India exceeds 5%. Safeguard duty notified on this product is 30% and basic customs duty is 10%. Ignore integrated tax and agriculture infrastructure and development cess.
Suggested Answer and Working Notes:
Correct Answer: Option (A)
₹ 10,25,000
Topics: Customs: Valuation under the Customs Act, 1962, Customs: Types of Duty
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