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What is High sea sales and what is de registration


RAMESH KUMAR

RAMESH KUMAR (Exim Officer)     13 August 2020

RAMESH KUMAR
Exim Officer 
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High Sea Sales [HSS] is a common trade practice within four corners of law whereby the original importer of goods sells the subject goods to a third person before the goods are entered for customs clearance.

 

more info

 

:

 

https://taxguru.in/goods-and-service-tax/high-sea-sales-procedure-implications-gst-customs.H T M L

 

 

 

Yami Soni   12 August 2020

Yami Soni

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please explain
prasad Nilugal

prasad Nilugal   12 August 2020

prasad Nilugal

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High sea sales means , Goods were sold before it reaches to Custom frentyear , It's nither supply of goods nor services , Schedule III of the CGST act 2017.
please confirm with others also .
Sagar Patel

Sagar Patel (Tax and Business Consultant)     12 August 2020

Sagar Patel
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Simply, High Sea sales (HSS) is a sale carried out by the actual importer of Goods (ie, the consignee shown in the Bill of Lading) to another buyer while the goods are yet on high seas or after their dispatch from the foreign port and before their arrival at the Indian port.

De registration Means cancellation of registration by any authority, who grant registration.
Yami Soni

Yami Soni   12 August 2020

Yami Soni

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High sea sales please explain with example
Sagar Patel

Sagar Patel (Tax and Business Consultant)     12 August 2020

Sagar Patel
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For example, A located in Mumbai procures goods from vendor B of USA.
The goods are exported from the USA and when the goods are in transit (in sea), A enters into a contract with C of Nagpur, and sells these goods to C, before the goods cross the customs frontier of India.
The sale of goods by A of Mumbai to C of Nagpur, while they are in transit is called high sea sale.
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