Selling of Fully Duty Paid Imported goods as FOC

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Analyst
39 Points Joined May 2009

Hi Exprets

Can we sell duty paid imports goods brought as FOC from related party?

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On 06 April 2025 at 18:06 Report
Replies (2)
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Master in Accounts & high court Advocate
9025 Points Joined December 2011

Selling Duty Paid Imported Goods Brought as Free of Cost (FOC) -

*Customs regulations*: Check if the goods were imported under a specific scheme or exemption that allows or restricts sale. -

*Duty paid*: Since duty has been paid, the goods can generally be sold. -

*Related party transaction*: Ensure compliance with transfer pricing regulations and arm's length principle. Considerations -

*Commercial invoice*: Verify if a commercial invoice was raised for the import, even if it was FOC. -

*GST implications*: Consider GST implications on the sale of imported goods. -

 *Documentation*: Maintain proper documentation, including proof of duty payment and import records. Recommendations -

*Consult customs broker*: Consult a customs broker or trade expert to ensure compliance with customs regulations. -

*Verify import documents*: Verify import documents, including the bill of entry and commercial invoice. -

*GST compliance*: Ensure GST compliance on the sale of imported goods.

Reply
On 21 April 2025 at 12:30
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Master in Accounts & high court Advocate
9025 Points Joined December 2011

Selling Duty Paid Imported Goods Brought as Free of Cost (FOC) -

*Customs regulations*: Check if the goods were imported under a specific scheme or exemption that allows or restricts sale. -

*Duty paid*: Since duty has been paid, the goods can generally be sold. -

*Related party transaction*: Ensure compliance with transfer pricing regulations and arm's length principle. Considerations -

*Commercial invoice*: Verify if a commercial invoice was raised for the import, even if it was FOC. -

*GST implications*: Consider GST implications on the sale of imported goods. -

 *Documentation*: Maintain proper documentation, including proof of duty payment and import records. Recommendations -

*Consult customs broker*: Consult a customs broker or trade expert to ensure compliance with customs regulations. -

*Verify import documents*: Verify import documents, including the bill of entry and commercial invoice. -

*GST compliance*: Ensure GST compliance on the sale of imported goods.

Reply
On 21 April 2025 at 12:30


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