22 July 2010
Customer India----raises ---Purchase Order in US$ to ABC India-(Ship to address in Malasiya/ Singapore/ Hongkong).
ABC India---raises ---Purchase Order in US$ to Vendor India-(Ship to address on customer address in Malasiya/ Singapore/ Hongkong).
Vendor India---raises ---Sales Order in US$ to ABC India-(Ship to address on customer address in Malasiya/ Singapore/ Hongkong).
ABC India---raises ---Sales Invoice in US$ to Customer India-(Ship to address on customer address in Malasiya/ Singapore/ Hongkong).
In above transaction possible in US$ will this be termed as High Seas Sales even if it is not transacted in Indian Ocean? Please confirm the possibility.
CAclubindia
