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1. Explain the key reasons and regulations for filling of K32, Duty Draw back calculations 2.The imported machinery qualified for temporary under Temporary Import Regulation

1. Explain the key reasons and regulations for filling of K32, Duty Draw back calculations

2.The imported machinery qualified for temporary under Temporary Import Regulation D8-1-1 and customs Tariff code 9993. Compute the amount of Duty and GST payable and/or posted by bond for the machinery that would in Canada for 6 months; if the transaction value of the machinery is US$175,000.00. Exchange rate is $1.329. (Show all details for full marks: 15 marks)

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