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Q. > Please Help: Assessable Value
Frieght is charged by manufacturer to deliver goods at buyer's premises at buyer's risk . . . Is ths frieght to be added to assessable value in accordance with Rule-5 or not?
1 Answers
answered Jun 08, 2011 by CA VIKAS JAIN , DELHI
risk and reward is transfered at place of removal so freight will not added in AV.
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Comments
CA SUBHASH KR.
02-Jun-2011 , 06:07:11 amAccording to Rule - 5 , freight is not included in assessable value.
CA VIKAS JAIN
02-Jun-2011 , 11:54:40 amCost of transportation from the place of removal to place of delivery will not be part of assessable value bcos goods are sold for delivery at place of removal in this case. i.e. the risk in transportation is transfer from manufacture to buyer at the time of removal. however if the goods are deliver to buyer at their premises at manufacture's risk then in that case place of removal is buyer premises and the cost of transportation will be part of AV.
CA. Sachin Data
08-Jun-2011 , 04:04:43 amNo, to determine the AV of the goods, the amount of freight has to be excluded. In any case, the freight from the place of rempval to the buyer's premises is not included in the AV.
CA Richa Gupta
10-Jun-2011 , 04:04:52 amAs per Rule 5 OF Valuation RULES 2000, cost of transportation is not to be incl in AV whether risk is of buyer or manufacturer, however if manufacturer is earning some profit due to transportation charges then it shall b included in AV.
chirag gupta
20-Jun-2011 , 12:42:29 pmNO. BECAUSE ACC. TO RULE-5, FREIGHT INCLUDED ONLY UP TO THE PLACE OF REMOVABLE. IN THIS CASE DELIVERY ON FACTORY GATE BECAUSE RISK IS TRANSFERED TO BUYER