Vat on sell in custom bounded area -by transfer of ownership
This query is : Resolved
21 March 2012
we have importd material and kept in custom bounded gowdown
we want to sell the material to other party before clearing from customs
while invoicing to customer vat /cst will be applicable or not
there are differnt opinions
pl let me know what is to be done and if some one is doing without vat/cst and is cleared bu maharashra sales tax
we want to sell the material to other party before clearing from customs
while invoicing to customer vat /cst will be applicable or not
there are differnt opinions
pl let me know what is to be done and if some one is doing without vat/cst and is cleared bu maharashra sales tax
27 March 2012
Mr C Shah,
If the imported goods are in the customs gowdown and not cleared by them means you have not received them.The goods are still in transit. The sale done at this stage is also a high sea sale and it is tax free. So,no VAT or CST is applicable.A high sea sale is a sale in the course of import and exempt from VAT/CST....MJK
If the imported goods are in the customs gowdown and not cleared by them means you have not received them.The goods are still in transit. The sale done at this stage is also a high sea sale and it is tax free. So,no VAT or CST is applicable.A high sea sale is a sale in the course of import and exempt from VAT/CST....MJK
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