‘High Sea Sales’ to be frank, this is something that many exporters or importers don’t know about. I am Very Sure this is something really interesting to know about as it contains many interesting high Sea Sales Rules as well. Let’s Check Out What is This High Sea Sales? What are the benefits of High Sea Sales & Much More.
“Entrepreneurs Are Great At Dealing With Uncertainty And Also Very Good At Minimizing Risk. That’s The Classic Entrepreneur.”
– Mohnish Pabrai In very simple words, when an original importer sells goods to a third party before the goods are entered for custom clearance. Sale of Goods which is made after the goods cross the custom barriers of the Foreign Nation but before entering the custom frontiers of India by way of transfer of document of title. Enough of Technical Talks? This blog is all about that only. Similar with third country sales where importers import goods & exports the same directly to a third country. Procedure of High Sea Sales
- Example, a foreign exporter will sale to an Indian entity & exports the goods to India. The goods can be sent through ship or air as well. The definition has nothing to do with the literal world much. The transaction is formalised after the dispatch from airport/ port or before the arrival of discharge/ airport at destination, such sale can be called ‘High Sea Sales’.
- The High Sea Sales is to be entered into after commencement of goods from territorial borders of the country of the exporter but before arrival of goods at territorial border of India.
- HSS Buyer files bill of entry along with other import documents with custom authorities. HSS makes the payment of all necessary import customs clearance charges along with import duty, if any.
Constitutional Validity: > According to Article 286 (1) (b) of the constitutional Law which states that no Law of state shall impose or authorize the imposition of, a tax on sales or purchase of goods where such sale or purchase takes place in the course of import of goods into, or export of the goods out of, the territory of India. High Sea Sales Benefits: > High Sea Sales goods are entitled to classification, rates of duty & all the notification benefits. > The High sea sales shortens transportation leads time for buyers who are looking to purchase on an urgent basis. > Buyers who are looking for short quantity products as much as those who are looking for large ones. > There are many such other benefits of HSSDocuments that needs to be submitted > Proper High Sea Sales Contract should be signed by both buyer & seller legally sound. > Non Negotiable Copy of respective invoice of lading in original.
> Authority letter from HSS Buyer or Custom Broker, addressed to deputy/ Assistant commissioner of customs, import noting, Jawaharlal Nehru Custom House
Learn More Earn More! The Day you decide to learn more, your probability to earn more in the future increases simultaneously. In the same way, digital exim provide unlimited guidance to all who want to start their export import business. The reason behind the utmost support is we have a strong expertised team who always work hard in giving a newbie the best experience. Also, digital exim is known for it’s super responsive support where you directly get personal consultancy from our International trade Manager. Conclusion: I know that many of you would agree with me in believing that many of you were not aware about High Sea Sales Rules. Most might not know High Sea Sales Benefits, High Sea Sales or Even High Sea Sales itself. There is no need to feel regret as Digital Exim is there to sort everything for you. The age of learning should not die for all the exporters or importers. You are constantly learning in this export import field. Do join Digital exim, india’s fastest growing export import consultancy group. A Group with one mission of making ‘Future Entrepreneurs’. Grab The Opportunity to get trained by high qualified professionals for your great journey of import export. Here or there, Digital Exim is always rocking. Call on 9505506333 to start your golden journey with us today!
