Customs Duty in axapta ERP

 Customs Duty – Customs Duty is paid on your exports\imports.

à Tax Components –
 a) Basic Customs Duty (BCD
b) Counter Availing Duty (CVD)
c) PECess on BCD
d) SHECess on BCD
e) PECess on CVD (on BCD+ CVD+ PECess + SHECe
f) SHECess on CVD (on BCD+ CVD+ PECess + SHECess)
à Tax Credit available on CVD, PECess on BCD and SHECess on BCD.
Setoff available on
a) CVD – Basic Excise Duty
b) PECess on BCD – PECess on Excise
c) SHECess on BCD – SHECess on Excise

à Calculation of assessable value:
a) When it is CIF consignment: Total Assessable Value = CIF
(Cost +  Insurance + Freight) + 1% landing cost

     b) When it is FOB Consignment:
 Total Assessable Value = C (Cost) + 1% landing cost