answersLogoWhite

0

In HIGH SEA SALE THERE WILL NO SALES TAX IS CHARGES SINCE THE SALE IS CARRIED OUTSIDE THE TERRITORIAL JURISDICTION OF India THERE WILL NOT BE SALES TAX LEVIED IN INDIA.

User Avatar

Wiki User

12y ago

What else can I help you with?

Related Questions

Whether service tax is leviable on high sea sales?

No service tax is leviable on high sea sales.


Can high sea sale be a predetermined sale?

yes it can be predetermined


What is the advantage of high sea sale?

Benefits :1) You save the local sales tax payable on land.2) No foreign exchange fluctuation is involved.


What is high seas sales?

high sea sales is a sale made, of a consignment, while its in sea only suppose a power plant construction co. imports boiler turbine and generator from china to construct a power plant in India for his client let us say any state government. now this co. have to ultimately sell these equipments to his client and for it it has to pay service tax to save this tax of about 12% high sea sale is made i.e power plant construction co. sells these equipments when they are in sea only to state government ending up saving this tax which they otherwise have to pay if they would raise invoice to that state government for boiler turbine and generator pl give a perfect exampled


Who is responsible for Sales Tax Under High sea sales?

No One. it is exempted. chill


Who pay to oversea supplier under high sea sale?

The first buyer pay the amount


What is the difference between sale in course of import and high sea sales?

High Sea Sales happen while the product is still on the high seas or on the way from one airport to another. Sales in course of transport is basically the same thing as high sea sales.


What is high seas sale Please describe this Hindi language?

High Sea sales (HSS) is a sale carried out by the carrier document consignee to another buyer while the goods are yet on high seas or after their dispatch from the port/ airport of origin and before their arrival at the port / airport of destination.


Can you explain briefly what is high sea sale invoice?

High Sea Sale is the sale of goods after having been dispatched from the load port i.e. port of export and before clearance of goods from Customs. Some customs officers take literal meaning and insist that the sale should be after dispatch and before arrival of goods. But HSS is basically resorted to get exempted from liability of VAT/ sales tax as no sale tax oe VAT can be levied on the imported goods during the course of import which is treated as completed only when goods cross customs frontiers. Hence the HSS can be made till clearance of goods from customs area/port etc. High Sea sale (HSS) Invoice is the Invoice issued by the seller to buyer. It will show the final price charged by the seller from the buyer. It can be in Indian currency or may show the price at which the seller has purchased the goods from the overseas seller and add HSS commission charged by him and payment can be made equal to the Indian Rupees as per exchange rate of Bank on date of remittance by HSS seller or equal to customs exchange rate as per Bill of Entry depending upon the terms of their agreement. Board had issued a Circular that the HSS commission will be minimum 2% of CIF value but the same was not approved by courts and Board issued another circular to say that actual Commission amount will be added to CIF value for levy of duty.


What are the payment terms of a high seas sale?

Generally it should be an advance, thru cheque or credit for 30 days, normally LC terms should be avoided as its required lot of formality to discount of an lc and in high sea sale these formalities become more critical. Thanks


In a High Sea Sale can the buyer be called or defined as an importer.?

Yes, because they take legal possession of the cargo BEFORE it reaches the country to which it is consigned.


How high is Wales from sea level?

how high is barry above the sea level