![\"Everything](\"https:\/\/www.iiiem.in\/blog\/wp-content\/uploads\/2019\/11\/Everything-About-High-Sea-Sales-1024x536.jpg\")
<\/p>\n<\/p>\n
High Sea sales (HSS) is a sale carried\u00a0out by the actual\u00a0consignee (ie, the consignee shown in the\u00a0Bill of Lading) to another\u00a0buyer while the\u00a0goods\u00a0are yet on\u00a0high seas\u00a0or after their dispatch from the\u00a0port\u00a0of loading (POL) and before their arrival at the port of discharge (POD).<\/p>\n<\/li>\n
You can learn about all export-import documentation<\/a> and procedure from a well-known institution in your nearby area. That will help you a lot for your international business.<\/p>\n<\/li>\n The ownership of goods is been transferred, when items are on transit.\u00a0The contract needs to be signed on a stamp paper after dispatch of goods from origin and prior to their arrival at the buyer\u2019s destination.<\/p>\n<\/li>\n The date of transaction must be between Bill of lading date and Vessel arrival date at Port of discharge.<\/p>\n<\/li>\n High Sea Sale is mostly been done by traders, who buys in huge quantities and then look out for buyers at Destination.<\/p>\n<\/li>\n On concluding the\u00a0HSS\u00a0agreement, the\u00a0B\/L\u00a0should be endorsed in favor of the new buyer. In respect of air shipment,\u00a0\u00a0seller should write to the airline \/ consol agent informing that a\u00a0the\u00a0agreement has been established with the\u00a0HSS\u00a0buyer and that the carrier document should therefore be considered as endorsed in favor of the\u00a0HSS\u00a0 buyer and further the\u00a0IGM\u00a0should be filed by the carrier in the name of the\u00a0HSS\u00a0buyer.<\/p>\n<\/li>\n The endorsement should read \u201cTransferred on High Sea Sales basis to M\/S \u2014\u2014\u2013 for a sales consideration of Rupees \u2014\u2014\u2013\u201c. Such endorsement should be stamped as well as signed by the seller<\/p>\n<\/li>\n The\u00a0CIF\u00a0value for calculation of duty<\/a> is been taken to be the\u00a0HSS\u00a0value.<\/p>\n<\/li>\n The title of goods transfers to\u00a0HSS\u00a0buyer prior to entry of goods in territorial jurisdiction of India. The delivery from customs is therefore because of\u00a0HSS\u00a0buyer. The\u00a0CENVAT\u00a0credit in respect of\u00a0CVD\u00a0paid on import is entitled to\u00a0HSS\u00a0buyer.<\/p>\n<\/li>\n Same goods can be sold more than once on high seas. There is no bar\u00a0for reselling it for any number of times. Only requirement is that \u2013 the HSS agreement should give indication of previous title transfers. The customs office\/officer may call upon the last HSS buyer to obtain copies of previous HSS agreement as such documents.<\/p>\n<\/li>\n HSS\u00a0goods are entitled to classification, rates of duty and all notification benefits as would be applicable to similar import goods on normal sale.<\/p>\n<\/li>\n HSS is been considered as a sale carried out outside the territorial jurisdiction of\u00a0India and so no sales tax is levied in respect of HSS.<\/p>\n<\/li>\n Sometime\u00a0HSS\u00a0buyers buy goods after their arrival. Such sale is not\u00a0HSS. The stamp paper on which the\u00a0HSS\u00a0agreement is been executed must not bear the stamp paper purchase date as being post cargo arrival date. Such a case can be easily detected by customs as being a post arrival sale.<\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":" High Sea sales (HSS) is a sale carried\u00a0out by the actual\u00a0consignee (ie, the consignee shown in the\u00a0Bill of Lading) to another\u00a0buyer while the\u00a0goods\u00a0are yet on\u00a0high seas\u00a0or after their dispatch from the\u00a0port\u00a0of loading (POL) and before their arrival at the port of discharge (POD). You can learn about all export-import documentation and procedure from a well-known\u2026 Read More »<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":483,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,1],"tags":[161,35,178,145],"class_list":["post-482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-export-import-business","category-iiiem","tag-export-documentation","tag-export-import-business","tag-high-sea-sales","tag-iiiem"],"_links":{"self":[{"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/posts\/482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/comments?post=482"}],"version-history":[{"count":5,"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/posts\/482\/revisions"}],"predecessor-version":[{"id":488,"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/posts\/482\/revisions\/488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/media\/483"}],"wp:attachment":[{"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/media?parent=482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/categories?post=482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iiiem.in\/blog\/wp-json\/wp\/v2\/tags?post=482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}