Academy Catalog|CTE-CUSTOMS · Global Trade & U.S. Customs Entry Walkthrough: 19 CFR Valuation, GRI HTSUS & CBP Form 7501
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Global Trade & U.S. Customs Entry Walkthrough: 19 CFR Valuation, GRI HTSUS & CBP Form 7501

Compute 19 CFR §152.103 Transaction Value (assists vs. freight & buying commissions), apply GRI 1–6 classification, and complete CBP Form 7501 Entry Summary.

Multi-Cell Tie-Out Workpaper~30 min · Import Entry #7501-01: Pacific Precision Corp Ocean Shipment (Port of Los Angeles)

Module 1: 19 CFR §152.103 Transaction Value, Dutiable Assists & Freight Deductions

Pacific Precision imports CNC aluminum housings from Vietnam via ocean vessel under a CIF Los Angeles invoice. Compute the exact CBP Entered Value (Transaction Value) under 19 CFR §152.103.

Import Entry Packet · Unedited Primary Source PacketInspect figures carefully for Stage 2 Workpaper

Exhibit 1A: Commercial Invoice, Bill of Lading & Tooling Ledger

Commercial Invoice Total (CIF Los Angeles)$220,000 (includes $18,000 rated ocean freight & $2,000 marine cargo insurance)
Unbilled Buyer-Supplied Molds$15,000 precision die-cast molds shipped free of charge by U.S. buyer to Vietnamese factory
Separate Buying Agency Payment$4,000 paid under written agreement to independent Ho Chi Minh buying agent

Governing Statutory Authorities & Practitioner Rules

19 CFR §152.103 — Transaction Value Additions (Assists) vs. Exclusions (International Freight & Buying Commissions)

19 U.S.C. §1401a(b) · 19 CFR §152.102(a) & §152.103

Transaction Value equals price actually paid or payable PLUS packing, selling commissions, dutiable assists (tools, dies, molds supplied free/reduced by buyer), royalties, and proceeds—MINUS international freight, marine insurance, and post-importation customs duties if included in a CIF/DDP invoice. Bona fide buying commissions are non-dutiable.

Fieldwork Tip: Formula check: `CIF Invoice - International Freight - Marine Insurance + Dutiable Assists` (ignore bona fide buying commissions paid separately!).