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Merchandise trade or high sea sales? , Customs - Exim - SEZ |
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Merchandise trade or high sea sales? |
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Is it legal to export goods outside India without import the same goods in India? what documents is necessary for availing this benefit? and Is there any taxability arises? Posts / Replies Showing Replies 1 to 3 of 3 Records Page: 1
Dear Abhishek, It would be treated as sale outside the country and no tax would be applicable. However, you would have to report this transaction in the VAT/CST return. Bill of Lading is the crucial document in this transaction. Import Invoice, Agreement of high sea purchase/sale and for sale of goods outside the side would also require to prove this transaction that no tax is applicable. Regards Team YAGAY & SUN (Indirect Tax Consultants)
dear pradeep sir, they termed it merchandise trade and not as high sea sale... in this transaction they have only export invoice (sale invoice) and import invoice (purchase invoice) and airway bill of purchase party direct to seller party...and bank remittance are reflected properly in this regard..
Dear Abhishek, Your company would have to comply with the provisions of FEMA. Air way Bill is also an appropriate document for such transactions. Do also check with your Authorized Dealer or RBI in this regard. Regards, Team YAGAY & SUN Page: 1 Old Query - New Comments are closed. |
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