Implication on High Sea Sales
This query is : Open
05 March 2021
Dear Professionals,
Our Company has received Import Invoice for purchase of Dies from UAE. Here the Dies are not physically imported in India but are supplied to Extrusion Plant in UAE. Extrusion plant is of same company from where the dies are made. In future as well those dies will not come to India and will be utilised fully in UAE.
What is the GST and Customs implications for the above in Accounting ?
Our Company has received Import Invoice for purchase of Dies from UAE. Here the Dies are not physically imported in India but are supplied to Extrusion Plant in UAE. Extrusion plant is of same company from where the dies are made. In future as well those dies will not come to India and will be utilised fully in UAE.
What is the GST and Customs implications for the above in Accounting ?
05 March 2021
When the goods are not brought in to India it is not import. Therefore no custom duty
GST will depend on your contract
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
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- Journal entry of busniess expenses
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
