Highseas sale in case of import
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 April 2015
Dear Seniors,
A is the Material Manufacturer in Germany (foreign Party)
B is the Purchaser/Dealer in Noida, (UP)
C Customor/Consignee Bangalore (karnataka)
My Question is:
Is the below transaction "Highseas Sale" or not ?.
B purchases the material from A under Bill of Entry and B prepare a Invoice without any tax amount to C.
the material A Delivers in the name of B as a buyer & B directly send the material from port to C and B Endorse the L.R.in the name of C. so, material collects by C
who issue "c" form to whom & how to B enjoy the tax benifit on sale to C
Please guide me.
Dear Seniors,
A is the Material Manufacturer in Germany (foreign Party)
B is the Purchaser/Dealer in Noida, (UP)
C Customor/Consignee Bangalore (karnataka)
My Question is:
Is the below transaction "Highseas Sale" or not ?.
B purchases the material from A under Bill of Entry and B prepare a Invoice without any tax amount to C.
the material A Delivers in the name of B as a buyer & B directly send the material from port to C and B Endorse the L.R.in the name of C. so, material collects by C
who issue "c" form to whom & how to B enjoy the tax benifit on sale to C
Please guide me.
30 April 2015
For high sea sale B should purchase the material on FOB basis on bill of lading and sell it when the material on board of ship on high seas to c. Then only no VAT payable.
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
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- CG Tax On residential property
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Form 10BD Filling
- TDS ON CASH WITHDRAWALS...
- ESIC- Employee Registration
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
