Requirements - " sale on high seas" of goods, Customs - Exim - SEZ

[wig sinbad]

please inform regarding the requirements to be met for " sale on high seas" of goods meant for import into India

Posts / Replies

[shankar patil]

sale should take place before goods should land in indian teritory, min 2% value addition needed, high sea sale contarct should be between adte of BL/AWB and landing date in INdia

[Rama Krishana]

You may also refer to cbec circular no. 32/2004 dated 11th May 2004

[Rama Krishana]

In addition, it is advisable to prepare an agreement on stamp paper which is proof of high sea sale and acceptable to sales tax / vat authorities.