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Debit / Credit Notes-Container Detention Charges, Customs - Import - Export - Customs - SEZ

Issue Id: - 116586
Dated: 29-7-2020
By:- JAYANTA BANDYOPADHYAY
Debit / Credit Notes-Container Detention Charges

  • Contents

One foreign supplier will compensate us towards container detention charges. Should we require to raise Debit Note or They will raise Credit Note. Any Tax -customs duty impact with HSN code.

Please guide

Rgds

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Showing Replies 1 to 4 of 4 Records

1 Dated: 29-7-2020
By:- YAGAY andSUN

In our view, it is the supplier responsibility to issue a credit note. Further,if such reimbursement is incorporated in the agreement then no customs duty will be paid by you on such receipt.


2 Dated: 29-7-2020
By:- DR.MARIAPPAN GOVINDARAJAN

I endorse the views of Yagay.


3 Dated: 30-7-2020
By:- JAYANTA BANDYOPADHYAY

Many thanks Sirs for guidance

One point is not clear- Why there will be customs duty on compensation amount (towards detention cost of container beyond 5 days free time). Based on Shipping Line's claims, Foreign exporter will issue credit note on Indian importer and remit the amount by TT mode. Here how Customs Dept will fit in to . They will not come to know about this commercial decision. there could be income tax / GSt issue -that you may please guide me. Rgds


4 Dated: 30-7-2020
By:- KASTURI SETHI

Compensation is not income.


1

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