Accounts Knowledge Hub

Finance, Taxation and All Statutory Information For Everyone

Accounts Knowledge Hub

Finance, Taxation and All Statutory Information For Everyone

Excise

Simple Customs Duty Calculator (example)

Create custom duty calculator in Excel with % formulas as applicable and get percentage of duty on assessable value


Customs Duty Calculator (example)
 create worksheet and give formulas with ref. to % as applicable  and enter the values
CIF Value (Cost Insurance & Freight) in Rupees
                   10,000.00
Landing Cost
1.00%
                       100.00
Assessable Value
                   10,100.00
BCD (Basic Custom Duty)
7.50%
                       757.50
CVD (Counter Veiling Duty)
8.00%
                       868.60
CVD Cess (Educational Cess 2% + Higher Educational Cess 1%)
3.00%
                         26.06
BCD Cess (Educational Cess 2% + Higher Educational Cess 1%)
3.00%
                         49.56
Special Additional Duty
4.00%
                       472.07
Total Duty Paid
                 2,173.79
Percentage of Duty Paid on CIF Value
21.74%
Percentage of Duty Paid on Assessable Value (AV)
21.52%