Dear Sirs,
Can company stock & sale material by HIGH SEA SALE,
Case 1 i.e if company A is buying material by HSS from X country & the same is selling with INSTALLATION (supply & Apply / Providing & Fixing) to various buyers in indefinites period
Kindly guide me on,
1) Which taxes will be levied / attract.
2) Is it possible to do so.
Regards,
Sale after Import:
An importer may import the goods, stock the same and sale to buyers. This transaction do not be termed as sale in course of import.
Sale of imported goods confiscated by customs authorities and sold later on cannot be called as “Sale during the course of import”. It is held in the case of Collector of Customs Vs. State of W.B. 85 STC 121 (WBTT)
MUST READ:
Linotypa and Machinery Ltd. Vs. CTO [(1973) 32-STC-246 (Cal.)]
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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