Foreign trade

Knowledge resource 295 views 1 replies

ramprakash

Director

32 Points Joined February 2015

Hi,

We have a situation where unit R is a Indian company and involved in international trade. Can R trade the goods bought from country A to country B without entering Indian port in the form of import or export. In this case, is there any taxes associated except firm's income tax?

Thanks in advance

Replies (1)

MJ Krishnamurthy

ACCT(Retd)

7197 Points Joined July 2010

In this case both VAT and customs duty should not be applicable,because,these laws are enforceable within the borders of India only.If the traded goods do not enter the border limits of our country no levies can be made on such transactions......mjk