Senthil Mudaliar (Asst.Manager Exim) 09 May 2011
Dear Experts,
We are subsidiary company of headquarters based in germany. We are going to import from our parent company and want to re sale the same material to our customer based in india.
Our products are Flavors and Fragrance which is used as raw material to some of bakery and other industries.
Kindly advise me for billing methods to be followed.
Regards
Senthil
9974130996
Asha Pole (Legal) 10 May 2011
If you are referring from tax perspective, then yes indeed you will have to charge Vat on the sale price of the product at the time of billing. Though I am not sure about the exact rate, but I assume the vat applicable on such product is 20%.
karinabartram (klhgy5ryt) 11 May 2011
You must be aware of the financial risks that you will be assuming in each type of export transaction. Study each step involved in the fulfillment and payment process.
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Shayan Khan (B.com) 13 May 2011
VAT @ 20 % is available on Liquor items... please get it identified under which shedule your artical falls in order to determine the VAT rate.
VAT is to charged to the buyer at the specified rate at the point of sale.
u may claim exemption to a specific limits under VAT based on ur location...
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