QRIS Plus — Landed Cost & COGS per Unit Estimation
Working document to determine the COGS that will be used in the Report Growth Projection panel (Unit Cost + Landed Cost) and the Selling Price side to merchants.
Decisions already locked:
- ✅ First PO: 500 units @ USD 39/unit (cashflow constraint — tier ≥1000 units @ USD 35 deferred to a later PO)
- ✅ Kesles is PKP (VAT-registered) → Import VAT 11% + Import Income Tax (PPh 22) 2.5% are creditable, do not enter COGS
- ✅ Importer of Record: PT Kesles directly (via PPJK customs broker as PIB submission service) — not undername
- ✅ Vendor terms: 50% DP + 50% before shipping
- ✅ DHL Express door-to-door shipping Malaysia → Makassar
- ✅ Form D ATIGA must be obtained from Coherent Plus → Import Duty 0%
See
merchant_docs/docs/development/import-of-record-setup-checklist.mdfor the IoR operational playbook.
1. PO Parameters
| Item | Value |
|---|---|
| Vendor | Coherent Plus (Malaysia) |
| Price per unit (tier <1000) | USD 39 |
| Price per unit (tier ≥1000) | USD 35 — deferred to a later PO |
| FX rate | Invoice rate when Coherent Plus issues invoice (planning baseline: Rp 17,170/USD) |
| Quantity first PO | 500 units |
| Payment terms | 50% DP + 50% before ship (FX exposure ~30–45 days) |
| Origin | Coherent Plus, Malaysia |
| Destination | Jl. Deng Ramang, Perumahan The Victoria Residence B15, Sudiang Raya, Makassar, South Sulawesi |
| Shipping mode | DHL Express door-to-door |
| Importer of Record | PT Kesles (PKP), submits PIB via PPJK |
| Wireless module | GSM only (WiFi: skip) — ⚠️ SDPPI is still mandatory for GSM 4G LTE |
| Import VAT rate | 11% (non-luxury per UU HPP revision) |
| Import PPh 22 rate | 2.5% (importer with API/NIB) |
| Import Duty rate | 0% with Form D ATIGA |
1.1 FOB in IDR
| Metric | Value |
|---|---|
| Price per unit (USD) | 39 |
| Total FOB (USD) | 19,500 |
| Total FOB (IDR, rate 17,170) | Rp 334,815,000 |
| Per unit FOB (IDR) | Rp 669,630 |
1.2 PO Cashflow (50/50 terms)
| Milestone | USD | Rp | Notes |
|---|---|---|---|
| 50% DP at PO | 9,750 | 167,407,500 | Lock T0 rate |
| 50% settlement before ship | 9,750 | 167,407,500 | Lock rate at T+30/45 days — FX exposure |
⚠️ FX hedging: if the Rupiah weakens by Rp 500/USD during production (30–45 days), COGS per unit increases by Rp 9,750. Consider a bank forward contract or lock the FX rate up front.
2. Import Cost Estimation
2.1 Shipping (DHL Express Malaysia → Makassar)
Assumed weight/dimensions per unit:
- Actual weight ≈ 400 g/unit → 200 kg total chargeable
- Volumetric (15×10×5 cm / 5000) = 0.15 kg/unit — actual weight wins
| Parameter | Value |
|---|---|
| Chargeable weight | 200 kg |
| DHL Express estimated rate | USD 7.5/kg × 200 = 1,500 |
| Makassar last-mile surcharge | +USD 130 |
| Total USD | ~1,630 |
| Total IDR | ~Rp 28,000,000 |
| Per unit | Rp 56,000 |
Final rate must be confirmed via official DHL quote with the Kesles corporate account number — corporate rates are typically lower than retail.
2.2 Cargo insurance
0.5% × FOB = 0.5% × 334,815,000 = Rp 1,674,075 (~Rp 3,348/unit)
2.3 PPJK Fee (Customs Broker / Pengusaha Pengurusan Jasa Kepabeanan)
The PPJK submits the PIB on behalf of Kesles in CEISA 4.0, handles customs documents, calculates HS codes, and coordinates with Customs & DHL.
| Estimate | Rp |
|---|---|
| PPJK fee per shipment | 2,000,000 |
| Per unit | Rp 4,000 |
Shortlist 2–3 PPJK in Jakarta (Soetta hub) or Makassar for competitive quotes.
2.4 CIF (Cost + Insurance + Freight)
CIF = FOB + Freight + Insurance = 334,815,000 + 28,000,000 + 1,674,075 = Rp 364,489,075
2.5 Import Duty — Form D ATIGA 0%
With Form D ATIGA from Coherent Plus: Rp 0.
Without Form D (MFN 5%): 5% × CIF = Rp 18,224,454 (~Rp 36,449/unit). Form D must be pursued — saving is Rp 18 million per PO.
2.6 Import VAT 11%
11% × (CIF + Import Duty) = 11% × 364,489,075 = Rp 40,093,798 (~Rp 80,188/unit)
Kesles PKP status → counted as Input VAT (creditable), DOES NOT enter COGS. Paid first at PIB, offset against Output VAT in the next month's PPN periodic return.
2.7 Import PPh 22 2.5%
2.5% × (CIF + Import Duty) = 2.5% × 364,489,075 = Rp 9,112,227 (~Rp 18,224/unit)
Creditable in Kesles annual income tax return → DOES NOT enter COGS. Prepayment offset against year-end corporate income tax payable.
3. Final COGS per Unit
3.1 COGS Breakdown (what actually enters device cost)
| Component | Per PO (Rp) | Per unit (Rp) |
|---|---|---|
| Unit Cost (FOB IDR) | 334,815,000 | 669,630 |
| Freight DHL Express Makassar | 28,000,000 | 56,000 |
| Cargo insurance 0.5% | 1,674,075 | 3,348 |
| Import Duty (Form D 0%) | 0 | 0 |
| PPJK fee | 2,000,000 | 4,000 |
| Total COGS | Rp 366,489,075 | Rp 732,978 |
3.2 Import costs PAID but NOT COGS (creditable taxes)
| Component | Per PO (Rp) | Recovery method |
|---|---|---|
| Import VAT 11% | 40,093,798 | Input VAT → offset Output VAT in monthly PPN return |
| Import PPh 22 2.5% | 9,112,227 | Tax credit in annual income tax return |
| Total | Rp 49,206,025 | Returned via tax mechanism |
3.3 Total cash out at import vs effective COGS
| View | Rp |
|---|---|
| Initial cash out (COGS + import taxes) | 415,695,100 |
| Returned via tax credit (non-cash) | (49,206,025) |
| Effective COGS | Rp 366,489,075 |
| COGS per unit | Rp 732,978 |
⚠️ Initial funding requirement: Rp ~416 million — must be prepared even though effective COGS is only Rp 366 million. The Rp 49 million difference is tax that will be returned via the tax return.
4. Selling Price to Merchant
4.1 Formula
Selling ex-shipping ex-PPN = HPP × 1.20 (margin 20%)
+ Shipping ke merchant = Rp 100,000 (weighted average — lihat §4.3)
+ PPN Output 11% = 11% × (selling + shipping) [Kesles PKP → wajib pungut]
───────────────────────────────────────────────────────
= Harga final yang ditagih ke merchant
4.2 Calculation
| Component | Rp/unit |
|---|---|
| COGS | 732,978 |
| 20% margin | 146,596 |
| Selling ex-shipping ex-VAT | 879,574 |
| + Shipping to merchant | 100,000 |
| Subtotal ex-VAT | 979,574 |
| + Output VAT 11% | 107,753 |
| Final price to merchant | Rp 1,087,327 |
4.3 Tiered shipping to merchant (actual pricing)
The flat Rp 100,000 in the panel is a weighted average for projection. Actual prices to merchants are tiered based on shipping zones from Makassar:
| Tier | Rate to merchant | Region |
|---|---|---|
| 1 — Local | Rp 50,000 | South Sulawesi |
| 2 — Regular | Rp 100,000 | Other Sulawesi + Java + Bali + Kalimantan |
| 3 — Far | Rp 200,000 | Sumatra + Papua + Maluku + NTT |
Example weighted-average distribution for the panel projection:
| Year | Geographic focus | % T1 | % T2 | % T3 | Weighted avg |
|---|---|---|---|---|---|
| Year 1 (300 merchants) | Sulsel-heavy | 70% | 25% | 5% | Rp 70,000 |
| Year 2 (1000) | Sulawesi + Java | 40% | 50% | 10% | Rp 90,000 |
| Year 3–5 | Even nationwide | 20% | 55% | 25% | Rp 115,000 |
| Blended 5-year | — | — | — | — | Rp ~100,000 ⭐ |
Rp 100,000 is used in the panel as a 5-year blended average. Revisit when actual merchant distribution data comes in by Year 2.
4.4 Selling price per tier (for the price list published to merchants)
| Tier | COGS | Selling ex-VAT ex-shipping | + Shipping | + VAT 11% | Total price |
|---|---|---|---|---|---|
| 1 Local (Sulsel) | 732,978 | 879,574 | 50,000 | 102,253 | Rp 1,031,827 |
| 2 Regular | 732,978 | 879,574 | 100,000 | 107,753 | Rp 1,087,327 |
| 3 Far | 732,978 | 879,574 | 200,000 | 118,753 | Rp 1,198,327 |
5. Input to Report Growth Projection Panel
5.1 Baseline scenario "PO 500 · PKP · Form D"
| Panel field | Old default | New baseline |
|---|---|---|
| Merchant Targets | 300/1000/3000/6000/10000 | 300/1000/3000/6000/10000 (unchanged) |
| Daily Fee | 2,000 | 2,000 (unchanged) |
| MDR Total % (BI rule) | 0.7 | 0.7 (unchanged) |
| MDR Kesles % | 0.3 | 0.3 (unchanged) |
| Avg Daily Transaction | 850,000 | 850,000 (unchanged — adjust after actual data) |
| Operational Days | 300 | 300 (unchanged) |
| Active Base % | 85 | 85 (unchanged) |
| Churn % | 20 | 20 (unchanged) |
| Device Price (ex-VAT ex-shipping) | 2,500,000 | 879,574 |
| Shipping Charged | 150,000 | 100,000 (blended weighted avg) |
| Promo | 0 | 0 |
| Unit Cost | 1,500,000 | 669,630 |
| Landed Cost | 300,000 | 63,348 |
| Output VAT % (new field) | — | 11 |
COGS/unit: Rp 732,978 (down 59% from the old default Rp 1,800,000)
Device Margin/unit: Rp 146,596 (previously Rp 700,000 default — lower but realistic)
5.2 Year 1 device revenue (gross, ex-shipping ex-VAT)
Target 300 merchants Year 1 × Rp 879,574 = Rp 263,872,200
Year 1 device margin: 300 × Rp 146,596 = Rp 43,978,800
5.3 Cumulative 5-year device margin (panel default churn / active base)
Following the panel _projections formula:
- Cumulative new onboarded Year 1–5: 10,000 merchants
- Total 5-year device margin: 10,000 × Rp 146,596 = Rp 1,465,960,000
- Recurring fee + MDR share over 5 years: depends on avgActive per year (computed live by panel)
6. TODO Before PO Execution
6.1 Procurement
- Written quote from Coherent Plus: USD 39 price for 500 units, 50/50 terms, FOB term (factory/Malaysia port), production timeline
- Confirm Form D ATIGA is available from Coherent Plus (mandatory for 0% Import Duty)
- List of device models already certified by SDPPI Indonesia — if not, allow 2–3 months for certification (Rp 15–30 million per model)
- DHL Express quote using Kesles corporate account: 200 kg Malaysia → Makassar, door-to-door
- Shortlist + appoint PPJK (2–3 quotes; fee typically Rp 1.5–3 million per shipment)
6.2 Finance & Cashflow
-
Kesles PKP status→ PKP confirmed ✅ - Prepare Rp ~416 million funding for the first PO (initial cash out including VAT + PPh 22 to be reimbursed)
- Lock FX rate for the 50% settlement via bank forward contract or USD savings equivalent to USD 9,750
- Periodic VAT return for July/August 2026 (PO month) — ensure the import VAT credit is recorded as Input VAT
- Record import PPh 22 as a tax credit in the books — to be credited in the 2026 annual return
6.3 Tax & Compliance
- Verify Kesles SPPKP is still active + e-Faktur is functional
- Set up tax invoice issuance for device sales to merchants (Output VAT 11% on prices Rp 1,031,827 – 1,198,327 depending on tier)
- File monthly periodic VAT return on time (deadline end of the following month)
6.4 Legal / Operational
- Check Kesles NIB on OSS — ensure KBLI 46591/46521 is active (API/import functions)
- Special Power of Attorney to the appointed PPJK
- Vendor contract with Coherent Plus: clauses on delivery, quality, warranty, SDPPI compliance
- See the detailed playbook in
merchant_docs/docs/development/import-of-record-setup-checklist.md
6.5 Selling Side
- Set up tiered price list to merchants: Rp 1,031,827 / 1,087,327 / 1,198,327
- Merchant payment model: cash onboarding vs 3–6 month installments vs monthly rental — major impact on Year 1 cashflow
- Year 1 promo (300 first-merchant acquisition): consider Rp 100–200k discount for acquisition velocity
- Partner / sales rep revenue share from the Rp 146,596/unit margin — set the percentage
7. References
- Growth Projection panel:
planning_growth_projection_panel.dart - IoR playbook:
merchant_docs/docs/development/import-of-record-setup-checklist.md - Variable cost analysis:
qrisplus-variable-cost-analysis.md - Landed cost allocation scheme: migration 058 (
058_late_landed_cost_allocation.sql) - Rolling WAC 12 months: migration 059 (
059_wac_12m_rolling_window.sql) - WAC report endpoint:
dashboard_reports_wac.go - VAT rate 11%: UU HPP No. 7/2021 + Presidential announcement 31 Dec 2024 (12% only for luxury goods)
- Import PPh 22 rate: PMK-34/PMK.010/2017
- ATIGA Form D: PMK-229/PMK.04/2017
- API via NIB: PP 29/2021
- SDPPI certification: PM Kominfo 16/2018 + Permenkominfo 7/2022