NFMIMS - UNDER HIGHSEAS SALE

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Dear All, We sale import to our sister concern under the High Seas Sale. The product is Copper. As per the New FTP - We have to obtain registration certificate from the NFMIMS website before the arrival of the vessels. We have taken NFMIMS Certificate in the name of original importer and not second importer who by the copper under the High Seas Sale. The reason is that at the time of issue of NFMI .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... MS Certificate, we have to mention foreign currency and in High Seas Sale - the invoice amounts under the INR. Now, custom officer raised the objection that NFMIMS should be in the name of the last purchaser who buys under the High Seas Sale. They try to taking disadvantage of their positions which is comes around in Lakhs. The value of certificate is INR 500/- only and it is only to collect the d .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ate of metals imported in India. Can anybody informed us the rules or notification to import metal / copper under the High Seas Sale ? Regards, Ritesh Dave - Reply By Shilpi Jain - The Reply = 2 options - 1. The High sea sale purchaser could write to the customs officer stating that he is paying in INR and getting an INR invoice and the form does not have provision to enter the INR. So what detail .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s he should enter to register. OR 2. Fill foreign currency equivalent amount of the INR paid (since the original importer will not disclose his purchase price) and when questioned this reason can be mentioned. - NFMIMS - UNDER HIGHSEAS SALE - Query Started By: - Ritesh Dave Dated:- 6-12-2024 Last Replied Date:- 11-12-2024 Customs - Exim - SEZ - Got 1 Reply - Customs - Discussion Forum - Knowled .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - 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