High sea sales

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