High sea sales
This query is : Resolved
12 June 2012
Dear Sir,
I need to know about "High Sea Sales" so please lets me know about it....
Regards
Keshav
I need to know about "High Sea Sales" so please lets me know about it....
Regards
Keshav
13 June 2012
in this matter read link:
https://www.caclubindia.com/share_files/high-sea-sale-36661.asp#.T9gtM1I-1d4
Noted that:
************
Clearance procedure in case of high sea sales is the same as in case of general purpose
clearance but the following points must be considered: -
(1) Only one party’s name should appear in the bill of entry filed by canalizing agency or
export houses or trading houses. No bill of entry can be filed on account of another
party, Madras CPN No.72/89 dated 21.4.89.
(2) The bill of entry will be noted in the name of high sea buyer on production of high sea
sale contract. Original copy of bill of lading endorsed in favour of buyer should also be
given.
(3) High sea sale contract must be a legally enforceable contract.
(4) All declarations, undertaking, bonds etc. are to be given by the high sea buyer.
(5) Original importer is also required to fulfill conditions relating to importation.
(6) A high sea buyer is also required to file a declaration of value under Rule 10A of
Customs Valuation Rules 1980. He can obtain necessary data from seller for the
said declaration. (Mumbai CPN No.33/99 dated 4.3.99).
(7) High Sea sales are possible even in respect of goods transported by air. In case of
high sea sale of carriage by air, air way bill is a recognised document for carriage
of goods by air. Even though airway bill carries the words “NOT NEGOTIABLE” it
does not restrict the seller from exercising his right to dispose of the goods to a third
party.
A high sea seller must instruct his foreign supplier to direct the air carrier in writing to
deliver the cargo to high sea buyer.
https://www.caclubindia.com/share_files/high-sea-sale-36661.asp#.T9gtM1I-1d4
Noted that:
************
Clearance procedure in case of high sea sales is the same as in case of general purpose
clearance but the following points must be considered: -
(1) Only one party’s name should appear in the bill of entry filed by canalizing agency or
export houses or trading houses. No bill of entry can be filed on account of another
party, Madras CPN No.72/89 dated 21.4.89.
(2) The bill of entry will be noted in the name of high sea buyer on production of high sea
sale contract. Original copy of bill of lading endorsed in favour of buyer should also be
given.
(3) High sea sale contract must be a legally enforceable contract.
(4) All declarations, undertaking, bonds etc. are to be given by the high sea buyer.
(5) Original importer is also required to fulfill conditions relating to importation.
(6) A high sea buyer is also required to file a declaration of value under Rule 10A of
Customs Valuation Rules 1980. He can obtain necessary data from seller for the
said declaration. (Mumbai CPN No.33/99 dated 4.3.99).
(7) High Sea sales are possible even in respect of goods transported by air. In case of
high sea sale of carriage by air, air way bill is a recognised document for carriage
of goods by air. Even though airway bill carries the words “NOT NEGOTIABLE” it
does not restrict the seller from exercising his right to dispose of the goods to a third
party.
A high sea seller must instruct his foreign supplier to direct the air carrier in writing to
deliver the cargo to high sea buyer.
Message likes :
1 times
03 February 2014
Sir ,
please tell me its very needful for me
: can we claim for cenvat credit under RCM ?
I have paid professional fee to an advocate under RCM, can i avail to claim for cenvat credit for that amount ?
please its urgent
please tell me its very needful for me
: can we claim for cenvat credit under RCM ?
I have paid professional fee to an advocate under RCM, can i avail to claim for cenvat credit for that amount ?
please its urgent
15 February 2014
Dear Sir, can i file my income tax return ITR4 for AY-2013-14 against refund but now the has been expired so pls let us know that can i claim for the same refund.....
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