Customs and foreign trade rules accept cost certificates from Cost Accountants in several situations: export goods valued on a cost basis, brand rate drawback claims, and periodic reports by SEZ units.
Scope of service
- Cost certificate under Rule 5 of the Customs Valuation (Determination of Value of Export Goods) Rules, 2007
- Data and certification for brand rate drawback claims
- SEZ Annual Performance Report (Form I) and utilisation certificates
- Certificates under the Foreign Trade Policy where specified
Regulatory framework
- Customs Act, 1962
- Customs and Central Excise Duties Drawback Rules
- Special Economic Zones Rules, 2006 — Rules 12 and 22
- Foreign Trade Policy and Handbook of Procedures
Typical professional activities
- Review of input consumption and cost data
- Computation in the prescribed format
- Certificate issue
Applicable industries
Relevant articles and resources
- CAS-2: capacity determination and the cost of idle capacity
- CAS-4: cost of production for captive consumption
- CAS-6: measuring material cost
- CAS-7: employee cost in product costing
- Knowledge Centre: Cost Accounting
The information on this page describes the nature of the service. It is not advice on any specific matter. See the disclaimer.