Ch 5 · Customs — Levy, Valuation & Procedures

🧮 Formula sheet

1. 1.Assessable Value = CIF + 1% landing charges (pre-2017 rule) — now per actual costs
2. 2.BCD = Assessable Value × BCD%
3. 3.IGST on imports = (AV + BCD + SWS) × IGST%
4. 4.Compensation Cess on luxury / sin goods over and above IGST