Merchandise trade or high sea sales?

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Is it legal to export goods outside India without import the same goods in India? what documents is necessary for availing this benefit? and Is there any taxability arises? - Reply By Pradeep Khatri - The Reply = Dear Abhishek, It would be treated as sale outside the country and no tax would be applicable. However, you would have to report this transaction in the VAT/CST return. Bill of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Lading is the crucial document in this transaction. Import Invoice, Agreement of high sea purchase/sale and for sale of goods outside the side would also require to prove this transaction that no tax is applicable. Regards Team YAGAY SUN (Indirect Tax Consultants) - Reply By abhishek saraswat - The Reply = dear pradeep sir, they termed it merchandise trade and not as high sea sale... in .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... this transaction they have only export invoice (sale invoice) and import invoice (purchase invoice) and airway bill of purchase party direct to seller party...and bank remittance are reflected properly in this regard.. - Reply By Pradeep Khatri - The Reply = Dear Abhishek, Your company would have to comply with the provisions of FEMA. Air way Bill is also an appropriate document for such tran .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sactions. Do also check with your Authorized Dealer or RBI in this regard. Regards, Team YAGAY SUN - Merchandise trade or high sea sales? - Query Started By: - abhishek saraswat Dated:- 11-3-2014 Customs - Import - Export - Customs - SEZ - Got 3 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementin .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... dia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X