Oversea sales (transit export of imports)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2012 There is an order received by an indian company to sale its goods to a customer in SRI LANKA. To execute it the Indian company plans to import the goods and instead of bringing goods in India and pay duty, divert them directly to Sri lanka. The customer then get the goods clear by his own cost in Sri Lanka.

Is this transaction possible ? Will it be categories as High seas sale (export). So the Indian company is neither required to pay custom duty nor sales tax.

Kindly advice at your earliest.

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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29 December 2012 read link:

http://www.eximguru.com/exim/trade-agreement/india-sri-lanka-free-trade-agreement.aspx

please if you have any query then ask..but read the said link...

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

30 December 2012 SIR, THANKS FOR UR GUIDANCE.
MAY I KNOW THE HIGH SEA SALES PROCESURE & FORMAILITIES IMPORT & EXPORT DIRECTLY WITHOUT BRINGING INTO INDIA.
REGARDS

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RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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31 December 2012 https://www.caclubindia.com/share_files/high-sea-sale-36661.asp#.UOEck2c-1tg