Import & export
This query is : Resolved
24 August 2013
A company in india is selling goods to a company in usa and it is purchasing the goods from a chinese company. but the chinese company is shipping the goods directly to the us company instead of sending the goods to india. my ques is : 1. what are the implications to the indian company?
2. what are the taxes applicable to the indian company?
2. what are the taxes applicable to the indian company?
24 August 2013
PANDIT JI,
AS PER CURRENT FOREIGN TRADE POLICY YOU CAN AVAIL THE CHAPTER-3 BENEFIT 7% OF EXPORTED GOODS (AS A LICENCE AND ALSO SELL THIS TO THIRD PARTY I MEAN IMPORTER WHO NEED IMPORT .
IF YOU PURCHASE I MEAN IMPORT THE GOODS THEN CAN AVAIL ALSO S.A.D. REFUND FROM THE CUSTOM AS PER CBEC NOTIFICATION NO. 102/2007 DTD 14.09.2007.
ANY QUERY ,
REGARDS,
AS PER CURRENT FOREIGN TRADE POLICY YOU CAN AVAIL THE CHAPTER-3 BENEFIT 7% OF EXPORTED GOODS (AS A LICENCE AND ALSO SELL THIS TO THIRD PARTY I MEAN IMPORTER WHO NEED IMPORT .
IF YOU PURCHASE I MEAN IMPORT THE GOODS THEN CAN AVAIL ALSO S.A.D. REFUND FROM THE CUSTOM AS PER CBEC NOTIFICATION NO. 102/2007 DTD 14.09.2007.
ANY QUERY ,
REGARDS,
Message likes :
1 times
12 August 2020
Indian company will book normal purchase & sale transaction in its book.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
