goods sent to out of india for store & not for sale

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DIPESH PATEL (Querist)
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21 October 2018 Dear sir,
gst and income tax provisions regarding goods sent to out of india for store in private warehouse in abroad and then sale as per party order despatch goods from private ware house to party require location in abroad..

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 October 2018 GST not applicable, send the material after filling LUT in GST portal.
Income tax applicable only on sale outside India.

DIPESH PATEL

DIPESH PATEL (Querist)
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22 October 2018 Dear sir,
Present situation is that our client send goods to abroad in warehouse store (for quick & fast delievery of goods) and any client in abroad place order for goods than we have dispatch goods directly from warehouse to party premises .

our client pay GST and claim refund and accounted goods sent to warehouse as sale a/c but actual sale is not happen only stock is transfer is done but sale happen only when client in abroad place order.
main problem is that in accounts we have recorded sales but Forex amount not received and stock is not recorded but actual goods lying stock at abroad warehouse this will lead problem in finance planing as bank for CC/Loan limit sale is not consider as forex amount not received and stock not concider as stock not recorded in books of account for increase credit limit..
we request you to kindly guide us on above matter.....

party in foreign raised invoice to us for indian custom clearance ,custom duty payment as well as abroad clearance,warehouse rental charges , other charges for transfer of goods from ware house to abroad party premises as per party order ,other incidental charges and their own service charge

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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22 October 2018 Treat party in foreign as your agent. Not to treat stock transfer as sale in the books of accounts.

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