Check list of 3rd country high sea sale from india

[Shiv Yadav]

Dear Sir / Madam

Can anyone explain me what is the procedure for High Sea Sale to 3rd country and its procedure in India?

I wanted to know High Sea Sale procedure lubricants oil from Korea and sale to Bangladesh .

please share with me checklist and procedure.

Shiv Yadav

9911008686

[Shiv Yadav]

Check list of 3rd country high sea sale from india
Dear Sir / Madam Can anyone explain me what is the procedure for High Sea Sale to 3rd country and its it's procedure in India? I wanted to know High Sea Sale procedure for a Indian company ,it is Import from Korea and sale to Bangladesh . please share your experience with me and checklist and procedure. Shiv Yadav 9911008686

[Pawan Bhattad]

There is no need of high seas sale in case purchase from foreign country and sale to foreign country without goods touching to Indian territory. This type of transactions are called merchanting trade , detailed procedure is there as far banking is concerned on rbi website.

[Shiv Yadav]

Dear Mr. Pawan,

thank you for sharing your knowledge with me.

thanks

Shiv Yadav

9911008686

AI Summary

Merchanting trade: transactions without goods entering territory require no high-seas sale formalities; follow applicable banking procedures. Transactions in which goods are bought from a foreign seller and sold to a foreign buyer without the goods entering national territory are classified as merchanting trade and do not require domestic high-seas sale formalities; relevant remittance, invoicing and reporting procedures are governed by applicable banking guidance and should be followed as per the banking regulator's published checklist.