High sea sales

This query is : Resolved

Bhavana Khemka (Querist)
Follow

01 February 2013 Dear all,

who is liable to pay customs duty in case of high sea sales and why ?
if i am purchasing via high sea sales, am i liable ?

Manickam.N

Manickam.N (Expert)
Follow

02 February 2013 In the case of High sea sales, the buyer is the importer and Bill of Entry has to be filed in his name and he has to pay the duty.

Manish Mehta

Manish Mehta (Expert)
Follow

05 February 2013 Suppose original seller is A. If a had sale the product to B and if you enter into High sea sale arrangement with B ( your will name C) now B will raised a fresh invoice on C. C will file the Bill of entry on his name.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

08 February 2013 In the case of HSS , the CIF value for calculation of duty is taken to be the HSS value.

There is practice followed in customs that in case the HSS transfer takes place at import invoice value only, the custom would add 4% of CIF value as HSS loading factor. There have been cases where HSS sellers have sold at two percent more than import CIF but custom have added 4% of CIF as HSS value addition. Such practice of customs can be challenged at the customs duty is chargeable on genuine transaction value.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

THUSHAR MURALI KRISHNA

Rajesh

Frank

Amit Bhatkar

Shailesh Prajapati

Subscribe Now

High sea sales

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANCY

GST CONSULTANT

Manager- Finance and Compliance

CA Final

Senior Executive