Sale on the high seas is the sale of imported goods before crossing the customs area. Tansfer goods by the agreement registered in India and the buyer must pay the obligation of Cstoms, please confirm if the date of the sales contract may have landed in Objective 9 after the flight. There is no bar for the same products sold more than once on the high seas. In these cases, the last value of the shSS is taken over by customs for the purposes of the law. The latest HSS agreement is expected to provide guidance on past divestitures of securities. The last buyer of HSS should also receive copies of the previous HSS agreements, as they can benefit from customs. The same goods can be sold more than once on the high seas. There is no bar for resale for any number of times. This is the only thing to do – the HSS agreement should give guidance on previous securities transfers. The customs office may ask the last buyer of the HSS to receive as such copies of the previous HSS agreements. The information provided here is part of the High Sea Sales online export import course – procedures and formalities in India.
Let`s learn about this article – the procedures for selling on the high seas with a simple example below. “A,” a foreign seller delivers goods to “B” to a foreign buyer. At the end of the necessary export procedures, A sends the seller all the necessary documents to his bank. “B” includes a purchase agreement with C under sale on the high seas, once after cashing goods from the exporter`s territorial border, but before the arrival of the goods at the territorial border of India. B accepts documents from his bank that A sent through his bank. If the terms of payment with A and B are on view LC or DP, B returns the invoiced value of the goods to A before the documents are collected by the bank. In the case of credit agreements with A, B restores the book value of the goods to A based on the agreed credit period. The car letter (or airway calculation) is approved by B and transfers the title to C.B presents the C bill in national currency (INR). B provides the registration (or theft) invoice, its invoice in local currency, accompanied by an import invoice, an import list, a certificate of origin, an insurance certificate and other documents necessary, if any, for the duly validated import authorization. A keeps a copy of all documents it has delivered to C.C exchange of letters with other A import documents with customs authorities. C pays import tariffs, if applicable, import duties.
B may also take customs clearance and delivery to C if B does not want to know the actual contractual price of A and B. In this case, B files documents in C`s name to conceal the sale price between A and B. At the end of the customs clearance procedure, C delivers a copy of the entry slip to B.B the invoice for entry in question and other copies of the import documents and sales documents on the high seas are given to his bank. You can click here to read other articles on High Sea Sales: Important Documents Required in High Sea Sales, How to conceal the value of the original contract invoice in high seas sales transactions, Can one sell on the high seas under air cargo?, Can it be sold on the high seas more than twice?, Does VAT apply on shipments made under sales on the high seas? How do I check the duration of the contract for high-seas sales transactions? Documentation procedure for sale on the high seas.