What is High sea sales and what is de registration
Yami Soni (145 Points)
12 August 2020
please explain
4 Replies
prasad Nilugal
(3914 Points)
Replied 12 August 2020
High sea sales means , Goods were sold before it reaches to Custom frentyear , It's nither supply of goods nor services , Schedule III of the CGST act 2017.
please confirm with others also .
please confirm with others also .
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 12 August 2020
Simply, High Sea sales (HSS) is a sale carried out by the actual importer of Goods (ie, the consignee shown in the Bill of Lading) to another buyer while the goods are yet on high seas or after their dispatch from the foreign port and before their arrival at the Indian port.
De registration Means cancellation of registration by any authority, who grant registration.
De registration Means cancellation of registration by any authority, who grant registration.
Sagar Patel
(Tax and Business Consultant)
(11611 Points)
Replied 12 August 2020
For example, A located in Mumbai procures goods from vendor B of USA.
The goods are exported from the USA and when the goods are in transit (in sea), A enters into a contract with C of Nagpur, and sells these goods to C, before the goods cross the customs frontier of India.
The sale of goods by A of Mumbai to C of Nagpur, while they are in transit is called high sea sale.
The goods are exported from the USA and when the goods are in transit (in sea), A enters into a contract with C of Nagpur, and sells these goods to C, before the goods cross the customs frontier of India.
The sale of goods by A of Mumbai to C of Nagpur, while they are in transit is called high sea sale.
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