Anshuman (Director) (33 Points)
01 October 2012Dear Members,
We are a Pvt Ltd Co. registered at RoC Delhi. We have planned import shipment from China that will arrive at Chennai Port, TN, after customs clearance from there we will be sending and selling the material directly to a company based in Bangalore, Karnataka.
Please advice
Regards
Anshuman
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 01 October 2012
Better to go for Highseas Sale.
Rama Krishnan
(MBA)
(571 Points)
Replied 01 October 2012
1.In such case what taxes will be applicable other than customs duty and which jurisdiction applicable.
Answer: Other than Customs duties, you need to pay the applicable VAT/CST. You can get exemption of Special Additional duty ( SAD) on imports, provided you declare the MRP &the goods are indented for retail sale. Or Alternativley apply for refund and get SAD refund
2.What will be the best alternative for low tax incidence.
Answer : You can avoid VAT/CST provided the goods are sold on High Sea Sales, In such case your buyer has to customs clear the goods from customs.
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 01 October 2012
Yes, in This Case, Buyer Will Get to Know Your Purchased Price.
Since He is Paying Custom Duty
Amar Kumar Agrawal
(domain expert(custom clearance))
(26 Points)
Replied 13 June 2023
in case of HSS, buyer must have IEC otherwise will not able to file BOE.
CAclubindia
