https://www.taxtmi.com/forum/issue?id=3526 HSS transactions are valid while goods remain outside the territorial customs clearance regime; goods in a Customs Bonded Warehouse without duty payment are treated as on the high seas and may be sold on HSS terms. HSS agreements and buyer purchase orders are typically executed after shipment and dated after supplier invoice and bill of lading dates; bills of lading should be endorsed to record transfer on HSS basis. Customs duties apply at rates prevailing on clearance date, while the exchange rate for assessable value is fixed at the date of warehousing; the buyer may file the bill of entry and, after paying duty, remove goods from bond. en-us Mon, 31 Oct 2011 13:09:54 +0530 Thu, 23 Jan 2025 15:58:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=3526 HSS transactions are valid while goods remain outside the territorial customs clearance regime; goods in a Customs Bonded Warehouse without duty payment are treated as on the high seas and may be sold on HSS terms. HSS agreements and buyer purchase orders are typically executed after shipment and dated after supplier invoice and bill of lading dates; bills of lading should be endorsed to record transfer on HSS basis. Customs duties apply at rates prevailing on clearance date, while the exchange rate for assessable value is fixed at the date of warehousing; the buyer may file the bill of entry and, after paying duty, remove goods from bond. Discussion-Forum Customs Mon, 31 Oct 2011 13:09:54 +0530 https://www.taxtmi.com/forum/issue?id=3526