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TMI BlogHigh Seas SalesX X X X Extracts X X X X X X X X Extracts X X X X ..... High Seas Sales X X X X Extracts X X X X X X X X Extracts X X X X ..... n USD ? Reply By PAWAN KUMAR: The Reply: Yes, invoice can be raised in USD as this High Seas Sales is outside the territorial jurisdiction of India but you will have to provide the same in hss agreement with your buyer. Reply By Shiv Bansal: The Reply: in case of HSS, only the goods are outside the Indian territory on international sea but the HSS agreement has to be executed on stamp paper in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... India. It is a transaction between the two indian residents hence no foreign currency transaction is allowed between the two Indian redients within India. The agreement shall be deemed to be in rupee only but for payment/amount purpose you may give reference to a dollar like " for a consideration of rupees equal to ____ US$ to be converted as per the SBI card rate on a particular date or at a fix ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed conversion rate etc. The custom duty shall be levied based upon the high sale value in ruppes if it is more than 2% + the import value. If reference to US$ has been given in HSS then the Custom department shall convert the US$ by applying the rates on BE date with reference to the rate declared by customs from time to time. Thanks S.R. Bansal Reply By Sanjay Agarwal: The Reply: Thanks Mr B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ansal.
Regards
Sanjay Agarwal X X X X Extracts X X X X X X X X Extracts X X X X
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