Merchandise trade or high sea sales?

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....erchandise trade or high sea sales?<br> Query (Issue) Started By: - abhishek saraswat Dated:- 11-3-2014 Last Reply Date:- 13-3-2014 Customs - Exim - SEZ<br>Got 3 Replies<br>Customs<br>Is it legal to export goods outside India without import the same goods in India? what documents is necessary for availing this benefit? and Is there any taxability arises? Reply By Pradeep Khatri: The Reply: Dear ....

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....Abhishek, It would be treated as sale outside the country and no tax would be applicable. However, you would have to report this transaction in the VAT/CST return. Bill of Lading is the crucial document in this transaction. Import Invoice, Agreement of high sea purchase/sale and for sale of goods outside the side would also require to prove this transaction that no tax is applicable. Regards Te....

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....am YAGAY & SUN (Indirect Tax Consultants) Reply By abhishek saraswat: The Reply: dear pradeep sir, they termed it merchandise trade and not as high sea sale... in this transaction they have only export invoice (sale invoice) and import invoice (purchase invoice) and airway bill of purchase party direct to seller party...and bank remittance are reflected properly in this regard.. Reply By Pra....

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....deep Khatri: The Reply: Dear Abhishek, Your company would have to comply with the provisions of FEMA. Air way Bill is also an appropriate document for such transactions. Do also check with your Authorized Dealer or RBI in this regard. Regards, Team YAGAY & SUN<br> Discussion Forum - Knowledge Sharing ....