Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are the sourcing manager of ABC Foods Co. Ltd in Scarborough, Canada. (Address: 110 Dynamic Drive, Scarborough, ON, M1V 6B7) You plan to import

You are the sourcing manager of ABC Foods Co. Ltd in Scarborough, Canada. (Address: 110 Dynamic Drive, Scarborough, ON, M1V 6B7)

You plan to import some products from KF Snacks Co. Ltd, UK. (Address: KF Snacks Co. Ltd.1456 Summer Street, Cardiff, CF10 4LX)

Description of goods:

  1. Beverages containing milk, not certified organic, vanilla flavor soft drink.

Size: 500ML * 15 bottles per case. Price: USD4000. Quantity: 500 cases.

  1. Brown Sugar

Size: 300G * 50 bags per case. Price: USD 8000. Quantity: 200 cases

  1. Sodium Bicarbonate (Baking Soda)

Size: 50G * 50 bags per case. Price: USD 3000. Quantity: 300 cases

  1. Cookies

Size: 380G * 10 boxes per case. Price: USD 3300. Quantity: 300 cases

  1. Paper Bags (300 pcs)

Price: USD 6720. Quantity: 320 cases

BN of ABC Foods Co. Ltd: 123456789RM-0001

Paperwork provided: Canada Customs Invoice

Exporter's Certificate of Origin (Statement of Origin) is not provided.

Goods have been released on an RMD.

The vendor and purchaser are not related firms. Price paid or payable is without adjustments.

Direct Shipment Date is October 15, 2021

Requirements:

  1. Determine the appropriate 10 digit HS Classification number for these products.
    1. Ensure the format is XXXX.XX.XXXX

  1. Based on the information, review the related of the Customs Tariff Schedule, answer the following:
    • Total VFD
    • Classification number
    • Rate of Customs Duty
    • Rate of GST
    • Value for currency conversion
    • Value for duty
    • Customs Duties
    • Value for tax
    • GST
    • Customs duties
    • GST
    • Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

More Books

Students also viewed these General Management questions

Question

2. What is value to the user? How is it related to quality?

Answered: 1 week ago

Question

1. What is the definition of waste as it is used in this text?

Answered: 1 week ago