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High sea sale

VAT (Legacy) 413 views 1 replies

Dear All,

 

What is the meaning of High Sea Sale and what are the documnents required for HSS and what is the benefit under HSS for dealesr and end user

 

Thanks

CA Kanhaiyalal Gupta

Replies (1)

Dear Manish,

In the attached file there has been given all the cases  of stock transfer. and in your case it is also transfer to branch outside state, which comes in Scenario-1 Stock transfer to another state, in which it is clearly mentioned that In stock/branch transfer, goods move from one State to another, but there is no ‘sale’.

Goods are sent to branch or depot or consignment agent in other State. Stock transfer/branch transfer is not subject to tax since there is no ‘sale’.  Form F is required to be submitted to
establish stock transfer.  And in this case also company  is eligible for ITC.
 
Regds


CCI Pro

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