0
High Sea Sale is the sale of goods after having been dispatched from the load port i.e. port of export and before clearance of goods from Customs. Some customs officers take literal meaning and insist that the sale should be after dispatch and before arrival of goods. But HSS is basically resorted to get exempted from liability of VAT/ sales tax as no sale tax oe VAT can be levied on the imported goods during the course of import which is treated as completed only when goods cross customs frontiers. Hence the HSS can be made till clearance of goods from customs area/port etc.
High Sea sale (HSS) Invoice is the Invoice issued by the seller to buyer. It will show the final price charged by the seller from the buyer. It can be in Indian currency or may show the price at which the seller has purchased the goods from the overseas seller and add HSS commission charged by him and payment can be made equal to the Indian Rupees as per exchange rate of Bank on date of remittance by HSS seller or equal to customs exchange rate as per Bill of Entry depending upon the terms of their agreement.
Board had issued a Circular that the HSS commission will be minimum 2% of CIF value but the same was not approved by courts and Board issued another circular to say that actual Commission amount will be added to CIF value for levy of duty.
A high sea sale invoice is a legal document used in international trade to transfer ownership of goods between the original buyer and a third party before the goods cross the national border. This type of transaction typically occurs when goods are in transit and haven't reached the original buyer's location. The high sea sale invoice helps facilitate the transfer of ownership rights and financial obligations.
Add your answer:
Earn +20 pts
Define what a private sale treaty means?
A private sale treaty is a formal agreement between the buyer and seller to transfer ownership of an asset, typically real estate, outside of a public auction or open market sale. This type of sale allows for negotiation of terms, such as price and conditions, in a more private setting.
What is a sentence with sell and sale?
She decided to sell her old car at the garage sale.
How much notice is to be given before foreclosure sale in ca?
In California, the notice of sale must be published in a newspaper once a week for three weeks before the sale date, with the first notice published at least 20 days before the sale. Additionally, a notice of the sale must also be posted on the property at least 20 days before the sale.
When a court order to force the sale of real estate to pay a judgment is called?
A court order to force the sale of real estate to pay a judgment is typically referred to as a "judicial sale" or "sheriff's sale." This process allows for the property to be sold in order to satisfy the outstanding judgment that the owner owes.
What does recalled in a sheriffs sale mean?
Recalled in a sheriff's sale means that the sale has been canceled or rescheduled for a later date. This could happen for various reasons, such as errors in the legal process or unresolved issues with the property.
What points to be considered before making invoice by an importer in high seas sale?
The points to be considered before making an invoice by an importer in high seas sale include territorial jurisdiction. It also includes additional costs for transfer of documents and entry of goods.Ê
How do you put the pan number in tally sale invoice?
No it is not a use a pan no in invoice
What does a bill mean?
An invoice for sale or service.
What is difference between sale invoice and purchase invoice?
Sales invoice is issued by the seller at the time of making invoice whereas purchase invoice is issued by the purchaser to the seller for confirming the order. Anuj Saxena
What is the purpose of invoice from supplier?
Invoice from supplier is proof of sale by seller. In case of any defect, shortage etc. buyer can produce invoice as evidence.
How do you word vehicle receipt?
Bill of sale Invoice Are these what you are looking for?
How does a proforma invoice differ from the standard invoice?
Hello,A proforma invoice is essentially a draft invoice sent to a customer who is committed to making a purchase, but the details of the sale may change.A standard invoice, or full invoice, is issued when the sale has been finalised, and the customer has agreed to purchase the products or services.If you want to know more about this topic, feel free to take a look at the articles on the Debitoor website.Kind regards,Katie from Debitoor
What is the source document for recording a cash sale transaction?
original tax invoice
What is meant by the term business invoice software?
Business invoice software enables one to create invoices tied to the sale of a product or service automatically after one has entered the details of the sale into the program. An example of this kind of software is Freshbooks.
The section of an invoice that list the date of the payment and the cash discount is called?
terms of sale
The section of an invoice that lists the date of the payment and the cash discount is called?
terms of sale
what to do after a sale to an AR Customer is made?
An invoice with payment terms and a due date is sent to the customer.
