TaxTMI 
TaxTMI 
Computation of freight of time chartered/daughter vessel and its inclusion in the assessed value as extended cost of transportation
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....stoms Conference on Valuation held at Mumbai on 1.10.05 and Board meeting dated 28.11.2005 - reg Circular No.04/2006 F.No.467/79/2005-Cus.V Government of India Ministry of Finance Department of Revenue CBEC 12^th January, 2006 Sub:- Computation of freight of time chartered/daughter vessel and its inclusion in the assessed value as extended cost of transportation - decision ....
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....lso not predetermined. The payment to time charter vessel is not on voyage basis but on monthly hire basis. In addition to the charter hire, the industry bears the cost of bunkers and the port charges for these vessels. Consequently, the actual transportation cost for any particular voyage cannot be directly identified. 2. The issue regarding computation of freight ....
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....erage freight rate assessment) arrived on the basis of market trends world over. 3. Rule 9(3) of Customs Valuation Rules require addition of freight, insurance, loading, unloading and handling expenses on the basis of objective and quantifiable data which are available in the form of independent and objectively calculated WS rates and AFRA (Average Freight Rate Adjustment). 4. The ....
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....he World Scale Association. In both cases, Wharfage and transshipment charges should be added to arrive at the total freight. It was also made clear that the data in respect of these calculations should be submitted by the respective importers to the satisfaction of the assessing officer. Accepting services by the Cost Accountant's may also be considered by the respective Commiss....