Dear All,
What is the meaning of High Sea Sale and what are the documnents required for HSS and what is the benefit under HSS for dealesr and end user
Thanks
CA Kanhaiyalal Gupta
1 Replies
CA Lukesh Sethi
(CHARTERED ACCOUNTANT)
(150 Points)
Replied 13 December 2012
Dear Manish,
In the attached file there has been given all the cases of stock transfer. and in your case it is also transfer to branch outside state, which comes in Scenario-1 Stock transfer to another state, in which it is clearly mentioned that In stock/branch transfer, goods move from one State to another, but there is no ‘sale’.
Goods are sent to branch or depot or consignment agent in other State. Stock transfer/branch transfer is not subject to tax since there is no ‘sale’. Form F is required to be submitted to
establish stock transfer. And in this case also company is eligible for ITC.
Regds
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