Webcustoms duty and hence, the sales effected by the appellant to the end-buyers could not be said to be high sea sales. 4. The appellant felt aggrieved of the orders so passed by the CTO but, instead of availing the statutory remedy of appeal, chose to challenge the same by way of writ petitions in the High Court. These writ petitions have been WebBASIC CUSTOM DUTY (BCD) :- BCD is a type of duty or tax imposed @10% under the Customs Act (1962) on the import of goods. Applicability of BCD on High Sea sale :- Territorial water extends up to 12 nautical miles into the sea from the coast of India and so the liability to pay import duty commences as soon as goods enter the territorial waters ...
High Sea Sales- Procedure & Implications under GST & Customs
WebJun 3, 2015 · Well, High Sea Sale means, a transaction of sale on the high seas. High seas are not in jurisdiction of any country, and hence on high sea sales, there is no duty liability of any kind. High sea sale can be transacted in various mode. No written contract is necessary. In fact, a bill of lading- which is a negotiable instrument, may be endorsed ... WebIf the purchase is on high seas, the selling price will be naturally higher than the price at which the original buyer imported the goods. However, even if price is lower, the duty will … easiest way to cut hardiebacker board
Transaction value at the time and place of importation
WebFor a HSS transaction, the final sale value will be used to calculate duty basis (in accordance to FOB/CIF/EXW depending on Customs). Sometimes Customs would append additional charges to HSS value. In some cases, sellers may not want to inform the buyer what the original value is. WebJan 8, 2024 · 1. Tell the seller explicitly that the item is for personal use. Import duties typically apply to items imported for commercial use (business or resale)—not personal or retail sales. If you're importing something for your own personal use or as a gift for someone else, you don't have to pay them. [7] WebApr 11, 2024 · As per customs and central excise, the goods are imported in the name of high sea sale buyer and all benefits and levies are involved with the new buyer (final … easiest way to cut foam cushions