High sea sales between two countries
Querist : Anonymous
Or if there is any other way that I can directly export from China to Turkey, please let me know.
Querist : Anonymous
Querist : Anonymous
See the arrangement given here.
Let me explain Triangular Shipment with an example to make you easily understand.Triangular Shipment.
You are situated in Mumbai, India. You have obtained an order from a buyer called ABC from Yang Min, China. As per your contract with your buyer in China, you need to ship the goods to a party called XYZ New York, USA. Here, the purchase order from final buyer has been obtained by ABC from China and he procures goods from you in India. You will be shipping goods to the port of XYZ at New York. This is one of the examples of ‘triangular shipment’.
I will explain once again to make easier on the above example of Triangular Shipment.
As far as you are concerned, your buyer is ABC and you will receive foreign payment from your buyer ABC in China. All your accountability is with ABC only and you have no connection with XYZ. In turn, ABC will be receiving purchase order from XYZ. ABC receives amount of sale of goods also from XYZ. ‘Certificate of origin of goods under triangular shipment’ is obtained from the final manufacturer of goods, here in this case ‘you’ situated in India.
Querist : Anonymous
can you please confirm if triangular shipment comes under export category? And can I take all the benefits of exports from Government under this type of trade?
Querist : Anonymous
Can you please clarify if High Sea Sales is only for India? Or can we have HSS buyer from overseas?
Querist : Anonymous
Can you please tell as how do I save tax in this transaction? Like we have in exports where we don't pay tax.
How should I show that this is an export?
vijivkv1955@gmail.com
Querist : Anonymous
for Merchanting trade in International trade, what all documents should I submit in the bank to make the transactions (for making payment & receiving payment)?
How should I show this in GST? Any tax applicable in this trade?
What si formality for this with RBI/ Indian bank when money is received from amazon.com
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