Based on firm order from our India customer, we are planning to import the goods and do HSS aggreement. However, HSS agreement will be done after despatch and before landing at customs station.
Is it correct. Please confirm.
Or is there any condition that HSS buyer PO date should be later than supplier invoice date.
Debate on High Sea Sale timing: Must HSS deals finalize before Indian customs? Key focus on documentation and taxation. A discussion on High Sea Sale (HSS) agreements focuses on the timing and conditions for such transactions. Participants debate whether HSS agreements must be completed before goods reach Indian customs, and if the buyer's purchase order should be dated after the supplier's invoice. It is clarified that goods stored in a customs bonded warehouse can still be sold under HSS before customs duty is paid. The sale should occur before goods enter Indian territory to avoid double taxation. The discussion highlights the need for proper documentation, including endorsements on the bill of lading and compliance with valuation requirements. (AI Summary)
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