Import trade
This query is : Resolved
09 May 2012
Dear All,
We are company A.
Importing Goods from B.
Selling this goods to Company C in india.
Now, Suppose, goods are directly consigneed to C and all invoice are raised on C by B and A stands as buyer other than consignee.
A raises an invoice on C adding some margin on the invoices received from B.
1. Can A sale this goods to C without High Seas Sales, C pays duty on the original Invoice.
2. As goods are consingeed to C, C can direclt claim the delivery of goods from Customs Without High Seas Sales, is this a legal transaction.
We are company A.
Importing Goods from B.
Selling this goods to Company C in india.
Now, Suppose, goods are directly consigneed to C and all invoice are raised on C by B and A stands as buyer other than consignee.
A raises an invoice on C adding some margin on the invoices received from B.
1. Can A sale this goods to C without High Seas Sales, C pays duty on the original Invoice.
2. As goods are consingeed to C, C can direclt claim the delivery of goods from Customs Without High Seas Sales, is this a legal transaction.
RAMESH KUMAR VERMA
(Expert)
09 May 2012
for info:.
https://www.caclubindia.com/forum/free-sale-certificate-174409.asp
https://www.indiandata.com/trade_policy/export_procedures.html
also read:
https://www.caclubindia.com/forum/highseas-sale-14043.asp
https://www.caclubindia.com/forum/free-sale-certificate-174409.asp
https://www.indiandata.com/trade_policy/export_procedures.html
also read:
https://www.caclubindia.com/forum/highseas-sale-14043.asp
RAMESH KUMAR VERMA
(Expert)
10 May 2012
if u have not satisfied ask....
10 May 2012
Dear Expert,
First of all thankx for giving your valuable time.Moreover, i still didnot understand.
Why cannot A sell this cargo to C after adding some margin and C clears the goods from customs on the basis of original Import Invoice, therefore he can save the extra 2% to be loaded on Invoice Value. If goods are sold before clearing no VAT/CST is also applicable.
e.g. Say Import Price is say 1000 USD.
A adds 10 USD and sells to C, i.e., on 1010 USD. C can clear the goods and pays duty on 1000 USD and also pays the invoice amount to A i.e.,1010 USD. In this case there will be No HSS and NO VAT/CST.
Please advice.
First of all thankx for giving your valuable time.Moreover, i still didnot understand.
Why cannot A sell this cargo to C after adding some margin and C clears the goods from customs on the basis of original Import Invoice, therefore he can save the extra 2% to be loaded on Invoice Value. If goods are sold before clearing no VAT/CST is also applicable.
e.g. Say Import Price is say 1000 USD.
A adds 10 USD and sells to C, i.e., on 1010 USD. C can clear the goods and pays duty on 1000 USD and also pays the invoice amount to A i.e.,1010 USD. In this case there will be No HSS and NO VAT/CST.
Please advice.
RAMESH KUMAR VERMA
(Expert)
11 May 2012
in case of import No vat/ cst applicable.
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