Trade words
Assessable value
The value customs charges duty on: usually the CIF value, converted to rupees at the customs exchange rate.
Lessons that use this word
Lesson 95 min readCustoms duty: BCD, SWS, IGST and AIDCThe duties on an import into India, the order they are worked out in, how exemptions and trade deals lower them, and which part you can claim back.
Lesson 105 min readAssessable value, CIF and the customs exchange rateHow customs values an import: the transaction value, what is added to it, what happens when freight or insurance is unknown, and which exchange rate applies.
Lesson 176 min readIncoterms 2020The 11 Incoterms rules: who pays for freight and insurance, where the risk passes, and how your choice changes the customs value.
Lesson 255 min readCIF and FOB values, unit price and quantityWhy imports are valued CIF and exports FOB, how to work out a unit price, and how to compare prices fairly across shipments and units.
All trade words
Trade Academy is education, not legal, tax or customs advice. Rules and rates change by notification: check the live source, or ask a licensed customs broker, before you act.