Import export without movement of goods by singapore
This query is : Resolved
01 March 2012
Company A is located in Singapore places order on company B in India. Company B exports goods to Spain as per the instruction of Company A. please guide me on following.
1. Whether this is permissible as per Singapore laws?
2. If yes, how the documentation will be done by Company B in India?
3. How the accounting done in the books of Company A in Singapore?
4. Tax implication for A in Singapore?
5. Compliance to be done by Company B in India?
1. Whether this is permissible as per Singapore laws?
2. If yes, how the documentation will be done by Company B in India?
3. How the accounting done in the books of Company A in Singapore?
4. Tax implication for A in Singapore?
5. Compliance to be done by Company B in India?
01 March 2012
in india , this case is import, and after import buyer export the goods to spain.
ALL THE COMPLIANCE APPLICABLE AS PER NORMS SETUP BY RBI.
FOR INFORMATION:
CAREFULLY READ THE LINK:
https://www.eximguru.com/exim/guides/how-to-export/ch_17_export_documents.aspx
https://www.nfpl.net/pdf/procedure%20for%20import%20and%20export.pdf
ALL THE COMPLIANCE APPLICABLE AS PER NORMS SETUP BY RBI.
FOR INFORMATION:
CAREFULLY READ THE LINK:
https://www.eximguru.com/exim/guides/how-to-export/ch_17_export_documents.aspx
https://www.nfpl.net/pdf/procedure%20for%20import%20and%20export.pdf
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05 April 2012
First of all the Indian company is required to obtain the IE code and thereafter it can take the order from the Singapore company and can export it to any company anywhere in the world there is no restriction. It will always be an export as you are selling Indian Goods.
In your accounts you have to debit the Singapore company with the amount of the goods exported as you have no connection with the Canada Company but within 6 months you must bring the money in India otherwise there will be lot of problem with DRI and other departments including RBI formalities to be completed
In your accounts you have to debit the Singapore company with the amount of the goods exported as you have no connection with the Canada Company but within 6 months you must bring the money in India otherwise there will be lot of problem with DRI and other departments including RBI formalities to be completed
05 April 2012
First of all the Indian company is required to obtain the IE code and thereafter it can take the order from the Singapore company and can export it to any company anywhere in the world there is no restriction. It will always be an export as you are selling Indian Goods.
In your accounts you have to debit the Singapore company with the amount of the goods exported as you have no connection with the Canada Company but within 6 months you must bring the money in India otherwise there will be lot of problem with DRI and other departments including RBI formalities to be completed
In your accounts you have to debit the Singapore company with the amount of the goods exported as you have no connection with the Canada Company but within 6 months you must bring the money in India otherwise there will be lot of problem with DRI and other departments including RBI formalities to be completed
Message likes :
1 times
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