Which of the following factor(s) is/ are essential to determine assessable Value in case of import and export under the Customs Act, 1962? (1) Price at which such or like goods are ordinarily sold or offered for sale. (2) Discount given by the exporter when goods are imported into India. (3) Fact that Seller and Buyer are not be related to each other. (4) Exchange rate prescribed by the RBI when the bill of entry is presented.Select the correct answer from the options given below:

🎲 Try a Random Question  |  Total Questions in Quiz: 74  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
CS Executive Practice Test: Custom Act, 1962 – CS Executive Tax Laws — practice the complete quiz, review flashcards, or try a random question.


Which of the following factor(s) is/ are essential to determine assessable Value in case of import and export under the Customs Act, 1962?<br /> (1) Price at which such or like goods are ordinarily sold or offered for sale.<br /> (2) Discount given by the exporter when goods are imported into India.<br /> (3) Fact that Seller and Buyer are not be related to each other.<br /> (4) Exchange rate prescribed by the RBI when the bill of entry is presented.<br />Select the correct answer from the options given below:






ADVERTISEMENT