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Payment of Customs duty on Tools development Cost paid at Abroad

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..... Dear Sir, We have purchsed some Tools from abroad . After that said tools was developed by the said supplier . In this case supplier has raised 2 bills one for Tooling and another is for Tooling D .....

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..... evelopment Cost . Tooling cost is paid and Customs Duty paid thereon. Now we need to pay tools development cost ,the same was incurred by supplier on the above said tools. But there is no physical .....

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..... movement .Do we need to pay Customs Duty on that value . Regards Pradeep Jain - Reply By surya narayana - The Reply = Dear Pradeep Generally, customs duty is required to be paid on CIF value aft .....

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..... er conversion in INR and adding of landing charges. The CIF value is based on the invoice accompanied the tools. It is understood that the tool development cost is not included in the invoice. In thi .....

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..... s case, if you receive a separate invoice for tool development cost. Based on any agreement,then you may have to pay Service Tax under reverse charge and not the customs duty The above view is to the .....

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..... extent your query is understood by me Regards suryanarayana - Payment of Customs duty on Tools development Cost paid at Abroad - Query Started By: - Pradeep Jain Dated:- 9-3-2016 Customs - Import .....

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..... - Export - Customs - SEZ - Got 1 Reply - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxman .....

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..... agementindia.com - TMI - TaxTMI - TMITax .....

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