Save Rs 499. Go Ad-Free with CAclubindia Pro for 2 Full Years. Subscribe Now!

Sales made for export

960 views 2 replies

Suvarna

Articled Assistant

41 Points Posted on 19 December 2008

Dear sir,

The company in which I work is for the first time going to sale our product Manufactured to another company which intend to export the same.

I would like to know as finance manager what all precautions should I take.

Also I would like to know the Legal formalites & reqirement for the same.

Is there any exemption that we could avail?

Replies (2)

yash arora

STUDENT

41 Points Posted on 19 December 2008

copy of bill of lading and shipping bill document will be required for export and govt will pay incentives

RAJU

LEARNER

1089 Points Posted on 19 December 2008

Sales to an exporter is exempt from CST as per the provisions of CST Act, 1956. Exporter needs to furnish Form-H (along with copies Bill of lading) of for claiming exemption by the seller.

The exporter needs to have a prior export order at the point of purchase for him to issue Form-H. As a seller, it will be suffiicient to obtain Form-H alongwith copies of bill of lading to claim exemption.