What is the difference between High sea sales and imports
Monday, October 13, 2014     Category : For Beginners

 

 

What is the difference between High sea sales and imports?

 

Imports and High sea sale - a comparative study.

How imports differs from high sea sale. What are the major changes in high sea sale than regular import? What are the procedures for high sea sale?

 

How to differentiate High sea sale between Imports?

 

What is the difference between High sea sales and imports

What is High Sea Sale?

 

If a buyer wants to sell his consignment to a third party before arrival of goods but after sailing vessel from load port, such sale is known as high sea sale. In simple words, the ownership of goods is transferred, when goods are on transit.

 

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

 

 

 

Imports means any goods moved in to a country from foreign country.

 

A couple of detailed articles about imports and exports, its meaning etc. may be read in same website for further understanding.

 

You may also read other articles about high sea sale in this website to have a clear idea about high sea sale business.

 

Would you like to share your experience about this subject – Difference between high sea sale and imports?

 

Comment below your thoughts about difference between High sea sale and Imports.

 

 

 

Related Posts:

 

 

 

Documents required for import clearance under high sea sale

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

Can high sea sales possible under air shipment

Is sales tax applicable on shipments effected under high sea sales

How to check the time of contract on high sea sale transaction.

A simple tutorial on high sea sale procedures and formalities in India

Amendment of consignee in Bill of Lading

Excise and Customs - Click here to read complete notification under Budget 2014

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How to settle dispute in Exports and Imports?

Click here to know India Trade Classification(ITC)

Click here to know HS code of other product/commodity

Pre shipment bank finance to suppliers for exports through other agencies

Comments

 
naveen Says :
Friday, April 19, 2013
simple and brief description. Thanq
Mayank Khanna Says :
Thursday, May 16, 2013
Can you please clarify if we do a High Sea Sale, who should be shown as the supplier on bill of entry? Although the customs is calculated on the local invoice value, why is it necessary to account for the original shipping invoice as well? Who'll be the supplier if we do double or more high sea sale of the same consignment? Is there any way to hide the original supplier's details as revealing once may be the business lost forever?
Tushar Mathur Says :
Saturday, June 29, 2013
Sir May I get the list of documents when there is double High seas sale consignment and also confirm the actual CIF value for actual HSS buyer ?
gajanan Says :
Wednesday, August 28, 2013
It is worht and very informatic Gajanan
gajanan Says :
Wednesday, August 28, 2013
It is worht and very informatic Gajanan
NILESH BHANDARI Says :
Thursday, November 28, 2013
Purchase under high sea sales should be shown as imports or as indigenous in the books of account. Though the payment has been made in INR to supplier in India
Glintson Zimik Says :
Friday, January 03, 2014
Dear Sir/Madam, could you please clarify if we do a High Sea Sale, is it mandatory to show/disclose the original commercial invoice value/foreign invoice value while filing the bill of entry? Is there any provision where only total local invoice value/HSS invoice value would be taken in the bill of entry - BE. Is there any provision to hide the original commercial invoice value/foreign invoice value while filing the bill of entry - BE. This is vital for a HSS Seller as Bill of Entry - BE have to be given to the HSS Buyer as they would be claiming refund/MODVAT. And revealing the original invoice value to the HSS Buyer once may be business lost forever.
G.P. NAIR Says :
Wednesday, February 12, 2014
In High Sea Sales, can we raise the sales invoice at zero value? Is there any rule regarding the value of the sales invoice?
Lokesh B Says :
Wednesday, March 12, 2014
Hi, Can you pls confirm the difference between High Sea Sale & Merchating Trade? Is both same?
NARINDER Says :
Tuesday, June 17, 2014
WHAT IF the purchase/sale is outside of india, goods not destined to india, is direct sale from seller to buyer, but pmt isa made from india and recd in india on account of sale ( merchandise sale ) is it neceassary to register in vat deptt.
SOURAV MAJUMDER Says :
Saturday, August 09, 2014
How to pass accounting entries in relation to a high sea sale
Basu Maheshwari Says :
Thursday, October 09, 2014
I want to to know that in High Sea Sale to whom issued road permit,Exporter or Saling party
N.C.DAS Says :
Thursday, November 06, 2014
How to discharge the obligations against import of goods though goods is not reached in India.what documents to be submitted in place of Bill of Entry which is geerated by Custom Authority. Whether any tri-party agreement is required? If so how to hide the name of the party from whom goods are imported. How to send the remittance to the party from whom import is effected before receiving the payment against export. Can you clarify?
S.G.Kulkarni Says :
Tuesday, November 25, 2014
In High Sea Sales, the seller sells the goods to buyer and the seller arranges Bank transfer order. In such scenario, this falls under BAS[business auxiliary service] and attracts service tax. Recently, CESTAT has given stay for pre-deposit. Final decision/outcome is yet to come. In my opinion, this may attract service tax. It is suggested that the seller should charge service tax while carrying out High Sea Sales, as the matter is not free from doubt!
 

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