Difference between imported good in tansit or shipment
This query is : Resolved
03 June 2015
Sir/Mam,
could you please throw some light upon the concepts of 'imported goods in transit' & 'imported goods for transhipment' by stating an example.Thanks in advance
Best Regards.
could you please throw some light upon the concepts of 'imported goods in transit' & 'imported goods for transhipment' by stating an example.Thanks in advance
Best Regards.
11 June 2015
“The transhipment’ (transshipment) means the shipment of off-loading of goods from one location and loading to another (or one country to another) and from one carrier to another by mode of air, sea, road, either of two, or of all” .
So a Transhipment could be from a vessel to another vessel, one air craft to another aircraft, a vessel to an air craft, an air craft to a vessel, a road carrier to a vessel, a vessel to a road carrier, an aircraft to a road carrier, a road carrier to an aircraft or a road carrier to another road carrier or by means of all of them. However, the term ‘transhipment’ is widely used international trade by air and sea.
MORE INFO:
https://www.cbec.gov.in/customs/cs-act/cs-act-ch8.htm
So a Transhipment could be from a vessel to another vessel, one air craft to another aircraft, a vessel to an air craft, an air craft to a vessel, a road carrier to a vessel, a vessel to a road carrier, an aircraft to a road carrier, a road carrier to an aircraft or a road carrier to another road carrier or by means of all of them. However, the term ‘transhipment’ is widely used international trade by air and sea.
MORE INFO:
https://www.cbec.gov.in/customs/cs-act/cs-act-ch8.htm
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- Invertaded duty struture
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
