Debit / Credit Notes-Container Detention Charges

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..... Debit / Credit Notes-Container Detention Charges
Query (Issue) Started By: - JAYANTA BANDYOPADHYAY Dated:- 29-7-2020 Last Reply Date:- 30-7-2020 Customs - Exim - SEZ
Got 4 Replies
Customs

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..... >One foreign supplier will compensate us towards container detention charges. Should we require to raise Debit Note or They will raise Credit Note. Any Tax -customs duty impact with HSN code. Please .....

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..... guide Rgds Reply By YAGAY andSUN: The Reply: In our view, it is the supplier responsibility to issue a credit note. Further,if such reimbursement is incorporated in the agreement then no customs du .....

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..... ty will be paid by you on such receipt. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: I endorse the views of Yagay. Reply By JAYANTA BANDYOPADHYAY: The Reply: Many thanks Sirs for guidance One p .....

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..... oint is not clear- Why there will be customs duty on compensation amount (towards detention cost of container beyond 5 days free time). Based on Shipping Line's claims, Foreign exporter will issue .....

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..... credit note on Indian importer and remit the amount by TT mode. Here how Customs Dept will fit in to . They will not come to know about this commercial decision. there could be income tax / GSt issue .....

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..... -that you may please guide me. Rgds Reply By KASTURI SETHI: The Reply: Compensation is not income.
Discussion Forum - Knowledge Sharing .....

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