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
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
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Liable to deduct tds and 44ADA
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Subscription paid to foreign customer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
