Import & export
This query is : Resolved
24 August 2013
A company in india is selling goods to a company in usa and it is purchasing the goods from a chinese company. but the chinese company is shipping the goods directly to the us company instead of sending the goods to india. my ques is : 1. what are the implications to the indian company?
2. what are the taxes applicable to the indian company?
2. what are the taxes applicable to the indian company?
24 August 2013
PANDIT JI,
AS PER CURRENT FOREIGN TRADE POLICY YOU CAN AVAIL THE CHAPTER-3 BENEFIT 7% OF EXPORTED GOODS (AS A LICENCE AND ALSO SELL THIS TO THIRD PARTY I MEAN IMPORTER WHO NEED IMPORT .
IF YOU PURCHASE I MEAN IMPORT THE GOODS THEN CAN AVAIL ALSO S.A.D. REFUND FROM THE CUSTOM AS PER CBEC NOTIFICATION NO. 102/2007 DTD 14.09.2007.
ANY QUERY ,
REGARDS,
AS PER CURRENT FOREIGN TRADE POLICY YOU CAN AVAIL THE CHAPTER-3 BENEFIT 7% OF EXPORTED GOODS (AS A LICENCE AND ALSO SELL THIS TO THIRD PARTY I MEAN IMPORTER WHO NEED IMPORT .
IF YOU PURCHASE I MEAN IMPORT THE GOODS THEN CAN AVAIL ALSO S.A.D. REFUND FROM THE CUSTOM AS PER CBEC NOTIFICATION NO. 102/2007 DTD 14.09.2007.
ANY QUERY ,
REGARDS,
Message likes :
1 times
12 August 2020
Indian company will book normal purchase & sale transaction in its book.
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
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
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
