High Sea Sale Agreement

Let`s learn about this article – the procedures for selling on the high seas with a simple example below. The last buyer in the chain and importer would be required to establish the entire chain of documents, such as the original invoice, the high seas sales contract, details of the service charges paid/commission, etc., to establish a link between the first contractual price of the goods and the last transaction. 10. HSS is considered a sale outside the territorial jurisdiction of India. As a result, HSS does not collect a revenue tax. Customs documents (B/E) are either filed on behalf of the buyer of HSS, or this B/E has an indication indicating the name of the buyer of HSS. How can we distinguish between imports on the high seas? yes, it may be, and even there may be high seas sales figures between the loading port at the port of departure 12. HSS products are entitled to classification, customs duties and all reporting services that would apply to similar import goods at the time of normal sale. we can sell the tax bill before sailing the BCD offshore selling ship applicability on the high seas:- The territorial water extends up to 12 nautical miles into the sea from the coast of India and thus begins the responsibility of paying the import duties as soon as the goods enter the territorial waters of India. Therefore, no tariff on goods in transit is liable and, therefore, a sale on the high seas is not subject to BCD. HSS is considered a sale outside the territorial jurisdiction of India, so that no tax on turnover is levied on HSS. Thus, HSS is a sale by which the importer sells the goods to another buyer at or after shipping the goods from the loading port (i.e. port or airport) to the exporter`s country and before arrival at the destination/airport port for customs clearance.

However, the sale would be underway after arrival at the port/airport, but before customs clearance would not be at the high seas sale. Under HSS, the sale is expected to take place, while the goods are still on the high seas/at sea or after shipping from the exporting country`s port/airport and before reaching the port/airport for customs clearance/border of the destination country. This is well explained in the graph below:- What is the difference between offshore sales and imports? 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.