Sales in course of import
Pravin
(Querist) 02 August 2013
This query is : Resolved
Dear Sir,
What care I need to take care of when I am doing the transaction " Sales In course of Import" At present we are getting the invoice from our overseas supplier mentioning "Bill to us" and "ship to " our customer. What extra care I need to take as there is no Tax is involved in this transaction ? Please guide. Thanks
Advocate Sastry
(Expert) 02 August 2013
Are you referring about High Sea Sales or Direct Import from overseas seller.. Are the imports against Specific license or Free Import under Exim Policy... Please be specific and give full details so that you can be guided properly.
Pravin
(Querist) 02 August 2013
Sir, we are importing the goods under our IE Licence. we are in medcal equipment distribution. We are importing machine from overseas using our IE Code licence.
We dont know either to refer it as high sea sale or Sales in course of import.
Our overseas supplier billing the goods to us and shipping to our customer address ie doctor.
And we ourself paying the custom duty and clearance charges.
And raising the invoice under "SICOI Invoice" befor the goods crosses custom frontier of INDIA.
Please guide us whether it is correct transaction or what extra care we should take?
Thanks ,
Advocate Sastry
(Expert) 02 August 2013
I do not find anything wrong in the transactions... They are correct...You are working as an Agent for the Doctors and using your IE Code... You can read some legal decisions in this matter by searching Google
