In bill of Entry the charges are calculated like this IGST on Import =
(Assessable Value + BCD + SWS) × 18%
But the Bill of Entry is not capable of handling the above formula in taxes
Do help me out.
Duty Type | Amount (₹) – | – BCD (Basic Customs Duty) | 3,61,674 SWS (Social Welfare Surcharge) | 36,167 IGST | 15,06,389 Total Duty | 26,41,722 Interest | 1,086 Total Paid | 26,42,808
Assessable Value (CIF)
-
Basic Customs Duty
-
Social Welfare Surcharge
= Value for IGST
Difference is IGST and IGST cannot be set actual giving validation error
72,33,495
-
3,61,674
-
36,167
= 76,31,336 approx
IGST @ 18% ≈ ₹15,06,389
