How to hide invoice value of original contract under high sea sale transactions

 

The information provided here is part of Export Import Training online


 

How to hide invoice value of original contract under high sea sale transactions

 

 

Will all buyers and sellers in a high sea sale transaction know each other about the sale value of goods? Can an Exporter/Importer hide invoice value of goods under High Sea Sale transactions?

 

How to hide invoice value of original contract under high sea sale transactions

 

In a high sea sale business, while assessing value of goods at import customs, the authorities may demand to disclose the actual value of goods at each high sea sale transactions from first high sea sale transactions to last transactions. The customs clearance procedures are undertaken at the destination customs location where in last high sea sale transaction effected. So the party who files import customs clearance at final port of destination requires the details of invoice value of previous transaction (s) where in previous parties may not like to disclose the selling price of each transaction.

 

Here the question is, how to customs clear the cargo under high sea sales without disclosing the details of sale value of previous high sea sale values.

 

In such cases, normally the first buyer of goods who originally contracted sale undertakes the responsibility of import customs clearance and procedures and delivers cargo to the final buyer under ‘high sea sales‘. Although the first buyer undertakes and customs clears the cargo, all required documents are filed in the name of final buyer under high sea sales, who is responsible to the authorities, as he holds the title of goods under high sea sales. You may also read other articles about high sea sale in this website to have a clear idea on the subject.

 

You may click here to read other articles about High Sea Sales :A simple tutorial on high sea sale procedures and formalities in India   Major Documents required under High Sea Sales,     Can high sea sales possible under air shipment?,   Can high sea sale be effected more than two times?Is sales tax applicable on shipments effected under high sea sales?   How to check the time of contract on high sea sale transaction?  Documentation procedures on high sea sale.   Yes, I am sure, once after going through that articles you will have a good knowledge about High Sea Sales under International business.

Have you satisfied with this article about documentation to hide invoice value under High Sea Sale?

 

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Comment below your thoughts about High Sea Sale.

 

 


The above information is a part of Import Export online Training


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Comments


Bhavesh Mayani: Q. About documentation to hide invoice value under High Sea Sale? A : I have not got any satisfactory reply for the above Q, it is clear that apoint our own CHA will help in hiding the original document value to High Seas buyer. But my concern is how the Bill of Entry will be shown...? will it show the actual shipper details.....and....invoice value in foreign currency..OR the BE will show INR value under High Seas raise Invoice...? Awaiting your reply. Regards, Mayani

Gulshan Kumar: Dear Sir, Pls advise can we do High sea sale transection in favor of end customer in India , but the remittance will be made by his foreign ancilary: For example : Shipper : ABC ENGINEER, UK+DELHI END CUSTOMER : FORD INDIA , MUMBAI PAYMENT MADE BY : FORD SWITZERLAND

Surendran Kollerath: Mayani, I have tried to provide a brief idea about High Sea Sales. You may contact a consultant who specialized in High Sea Sales.

Mayank Shukla: I want to Import goods from Japan and sell to somebody in India, My customer (In India) wants to do the customs clearance itself but I do not want to disclose shippers details to my end customer. Is there any option to import it and sell it my customer without showing details of Japan shipper ? please help

joe sinnasammy : We are a company in Mauritius and we import goods from China for onward sale to Bangladesh. We do not want our Supplier to know where the goods are heading as we send the goods directly from China to Bangladesh. Is there a mechanism to do this? Rg

Admin: HELLO joe sinnasammy, Our article about TRIANGULAR EXPORTS AND IMPORTS explains about the procedures you require. Please go through TRIANGULA SHIPMENT.

mahesh: which major documents require for import of restricted item

Lindly Dexter: I would like to Import goods from country A to country B. My business is in country C. I would be paying the suplier A from my bank in country C. Can someone kindly advise if this is possible and any information with regards to this.

YEGNARAMAN: I am still not able to understand the concept of hiding the original invoice value .Can you demonstrate the same with an example in the light of more than one contact under the same goods under highseas sales ?

deepika: please refer which book can i buy and can i get contact details

Tameez: Dear sir, I have prchased product from china to india. Its on the way to india. Now i need qty from that after that haw can i re trasfered the product to uae witout pay the duty and gst

Tameez: Dear sir, I make purchase order from china to india. After receiving to india i need to resell to uae without paying any duty and taxes there is any possible condition.

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