WebBASIC CUSTOM DUTY (BCD) :- BCD is a type of duty or tax imposed @10% under the Customs Act (1962) on the import of goods. Applicability of BCD on High Sea sale :- Territorial water extends up to 12 nautical miles into the sea from the coast of India and so the liability to pay import duty commences as soon as goods enter the territorial waters ... WebThe custom duty shall be levied based upon the high sale value in ruppes if it is more than 2% + the import value. If reference to US$ has been given in HSS then the Custom department shall convert the US$ by applying the rates on BE date with reference to the rate declared by customs from time to time. Thanks. S.R. Bansal.
GST on High Sea Sales - MyAdvo.in
WebProcedure for High sea sales-. The HSS seller buys goods from an overseas supplier against POs received from its customer in India i.e., HSS buyer. That is, it will be a back to back PO. As against the PO given by the HSS seller, the overseas supplier will export the products. The export documents such as the bill of lading will show the HSS ... WebHigh sea sales is a sale carried out by the consignee to another buyer while the goods are in transit and before their arrival at the port of discharge. IGST is applicable on high sea … something in the rain konusu
GST On Imports: How Will Imports Be Taxed Under GST?
WebAug 11, 2024 · After the High sea sale of the goods, the Customs declarations i.e. Bill of Entry etc is filed by the person who buys the goods from the original importer during the said sale. In the past, CBEC has issued various instructions regarding high sea sales appropriating the contract price paid by the last high sea sales buyer into the Customs ... WebProcedure for High sea sales-. The HSS seller buys goods from an overseas supplier against POs received from its customer in India i.e., HSS buyer. That is, it will be a back to back … WebMay 27, 2024 · The high sea sales procedure includes an over-sea seller (assume the USA) who supplies products or items to a buyer in India (assume Delhi) and after the export … something in the rain ekşi