Import export without movement of goods by singapore
This query is : Resolved
Shrikant Atkalikar
(Querist)
01 March 2012
Company A is located in Singapore places order on company B in India. Company B exports goods to Spain as per the instruction of Company A. please guide me on following.
1. Whether this is permissible as per Singapore laws?
2. If yes, how the documentation will be done by Company B in India?
3. How the accounting done in the books of Company A in Singapore?
4. Tax implication for A in Singapore?
5. Compliance to be done by Company B in India?
1. Whether this is permissible as per Singapore laws?
2. If yes, how the documentation will be done by Company B in India?
3. How the accounting done in the books of Company A in Singapore?
4. Tax implication for A in Singapore?
5. Compliance to be done by Company B in India?
RAMESH KUMAR VERMA
(Expert)
01 March 2012
in india , this case is import, and after import buyer export the goods to spain.
ALL THE COMPLIANCE APPLICABLE AS PER NORMS SETUP BY RBI.
FOR INFORMATION:
CAREFULLY READ THE LINK:
https://www.eximguru.com/exim/guides/how-to-export/ch_17_export_documents.aspx
https://www.nfpl.net/pdf/procedure%20for%20import%20and%20export.pdf
ALL THE COMPLIANCE APPLICABLE AS PER NORMS SETUP BY RBI.
FOR INFORMATION:
CAREFULLY READ THE LINK:
https://www.eximguru.com/exim/guides/how-to-export/ch_17_export_documents.aspx
https://www.nfpl.net/pdf/procedure%20for%20import%20and%20export.pdf
Message likes :
1 times
05 April 2012
First of all the Indian company is required to obtain the IE code and thereafter it can take the order from the Singapore company and can export it to any company anywhere in the world there is no restriction. It will always be an export as you are selling Indian Goods.
In your accounts you have to debit the Singapore company with the amount of the goods exported as you have no connection with the Canada Company but within 6 months you must bring the money in India otherwise there will be lot of problem with DRI and other departments including RBI formalities to be completed
In your accounts you have to debit the Singapore company with the amount of the goods exported as you have no connection with the Canada Company but within 6 months you must bring the money in India otherwise there will be lot of problem with DRI and other departments including RBI formalities to be completed
05 April 2012
First of all the Indian company is required to obtain the IE code and thereafter it can take the order from the Singapore company and can export it to any company anywhere in the world there is no restriction. It will always be an export as you are selling Indian Goods.
In your accounts you have to debit the Singapore company with the amount of the goods exported as you have no connection with the Canada Company but within 6 months you must bring the money in India otherwise there will be lot of problem with DRI and other departments including RBI formalities to be completed
In your accounts you have to debit the Singapore company with the amount of the goods exported as you have no connection with the Canada Company but within 6 months you must bring the money in India otherwise there will be lot of problem with DRI and other departments including RBI formalities to be completed
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- TDS- 2026-27 Q1 Correction
- Advances to related party
- Rent agreement of House of deceased person
- LLP audit and disclosure
- Capital Gains Tax on Inherited Mutual Fund
- GSTR9 Annual Return
- Applicability of tax on invoice
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
