The date of the transaction must be between the date of the bill of lading and the date of arrival of the vessel in the unloading port. Therefore, customs declarations, i.e. the entry invoice, etc., are filed after the transaction to sell high-seas goods by the person who purchases the goods from the original importer during that sale. Good morning, sir! Is HSS valid if the shipping company`s invoice is issued in the name of the original importer, but the BoE and HSS agreement is in the name of the HSS buyer? Please reply gd abend.. You`ve received the answer. Can different countries get involved in selling on the high seas? A high-seas sales contract must be concluded between deep-sea and deep-sea sellers. When issuing a legal document, there will be a date for the issuance of such a document, which is mandatory by the authorities. The date of issuance of such a legal document should therefore not reflect the date of arrival of the goods. While the review of offshore sales is carried out, the following aspects must be considered as HSS, which is considered a sale made outside the territorial jurisdiction of India, so that no revenue tax is levied for HSS. In addition, the mention of the initial bill of lading must also bear the date of transfer of ownership of the goods before the arrival of the goods.
yes, it may be, and even there may be high-seas sales figures between the loading port at unloading port 9. 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. 13. HSS also applies to goods imported by air. The sea that appears in the HSS should not be built by its grammatical meaning. As long as the sale is formalized after shipping from the original airport/port and before arrival at the first unloading port/airport to destination, such a sale is considered HSS. Very briefly narrated. it would be preferable if the conditions were met for sales on the high seas.
In this article, I will talk about audit considerations of high seas selling. The duration of the high seas sales contract is important in the high-seas sales contract, as the contract date should not be before the export or after importation. Since the term “high seas sale” means its grammatical understanding, the sales contract should be entered into at the time of the transit of goods by export, but before importation. Dear Sir, If the buyer changed after HSS – IGM submitted to the first buyer, but the container was not unloaded at POD. Is there a chance of transferring the same HSS to another buyer? How did the High Sea Sale contract transfer? Let us first understand the importance of high-seas selling and other related definitions to gain the comfort of these terms. A few years ago, HSST was used more often and accepted as a normal practice. Large traders regularly took goods from a few remote locations, with their own sources or a long-term contract supplier, and they had the power to put those goods on the market, knowing that they would sell the goods very often before they even landed. Most of the time, all sea trips were very long, so the buyer could take goods on board, had about 30-40 days to sell them, had enough time to arrange all the papers and payments. Now all trips are much shorter, everyone buys everywhere, and not many use HSS.
In addition, some authorities question such operations, almost as if it were some kind of smuggling. As far as I know, the date of the agreement is the same date you accepted the sale. HB/L should also have a date that the seller prescribes, most likely the same or a day later.