An importer paid a foreign manufacturer S$30,000 for a machine. Will the discount of 15% for early payment be applied to the Customs value to be declared in the permit?
The discount of 15% would only be given if the payment was made early (within the stipulated period).
Since the condition was not met, the original value of S$30,000 would be the Customs value to be declared at the point of importation.
Related questions
An importer buys a machine from a foreign manufacturer at S$20,000. A cash discount of 5% is granted if payment is made within 10 days after the date of sale. At the point of importation, payment has not been made. What is the Customs value, S$20,000 or S$19,000?
An importer acquires a machine from an overseas supplier. The list price of the machine is S$200 but the supplier grants a 10% trade discount to the buyer because he operates at the retail level of trade, resulting in a total price paid or payable of S$180. What is the Customs value?
What should I do if I sold goods imported on a consignment basis at a higher price than the import value declared in the In-Payment GST permit?
What are the discounts in the commercial invoice that are not acceptable by Customs? Which are the ones to deduct from the invoice value for GST?
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