TaxTMI 
TaxTMI 
I want to import an item which is restricted and requires DAE licence for import and clearing of the same. Can I import the same in my name ( I am not having DAE licence), and sell the same on high seas sale basis to a customer who is having alll the requesite licences and the customer gets the goods cleared in his name?
High seas sales of restricted items
20 Jul 2013 
4 Replies 
4933 Views Asked by
High seas sale: transfer of title via negotiable documents lets buyer clear restricted imports and assume duty liability.
Title in a restricted import can be transferred to the purchaser by transferring negotiable documents such as the bill of lading and bill of entry, or by executing a high seas sale agreement and submitting it with the bill of entry and supplier papers so customs may generate the bill of entry in the buyer's name, after which the buyer bears duty liability; regulatory provisions should be checked and formal clarification sought before acting. (AI Summary)
Title in a restricted import can be transferred to the purchaser by transferring negotiable documents such as the bill of lading and bill of entry, or by executing a high seas sale agreement and submitting it with the bill of entry and supplier papers so customs may generate the bill of entry in the buyer's name, after which the buyer bears duty liability; regulatory provisions should be checked and formal clarification sought before acting. (AI Summary)