Dear Sirs,
Buyer of goods in a High Sea Sale transaction does not hold import permit in his name for the clearance of the goods. Import permit for the clearance of these goods is available in the name of High Sea Seller. Can such goods be cleared from Customs by the buyer of the goods on high sea sales without import permit in his name. Please clarify ? Thanks and Regards.
Devendra Devidasani
WHAT DO YOU MEAN BY IMPORT PERMIT?
HIGH SEA SALES TRANSACTIONS DUELY APPROVED TRANSACTIONS UNDER WHICH BUYER OF THE GOODS SELL THE GOODS TO A THIRD PARTY, WHILE THE GOODS ARE IN HIGH SEA, BEFORE IT TOUCHES THE INDIAN TERRITORY. FIRST BUYER ENDORSE THE DOCUMENTS IN FAVOUR OF NEW BUYER. ON THE STRENGTH OF THIS DOCUMNET AND HSS AGREMENT HE GETS CUSTOMS CLEARANCE DONE,POST PAYMENT OF APPLICABLE CUSTOMS DUTIES.
THIS TRASACTION IS ALSO ACKGED IN SALE TAX ACT AS SALE IN THE COURSE OF IMPORTA, HENCE SALES TAX ARE EXEMPTED
O P Bagla & Co LLP
New Delhi
CA Inter
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A R JADHAV AND ASSOCIATES
Mumbai
CA Inter
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