our company has imported machinery under EPCG licence and has rightly fulfilled the export obligation within the stipulated time by using our deemed/third party export. we have also received our export obligation discharge certificate but know the deprtmnt has cancelled the EODC stating that the obligation has not been righty fulfilled
They are demanding the Custom duty saved at the time of import along interest
Kindly advice us. whether we will have to make the payment as they will be issuing a demand notice soon.
if we agree to pay the pricipal amt can we take the credit of the same in our banks and fight against the case??
is payment of interest mandatory??? if we pay the interest amt and keep fighting,we will get back the interest amt if the case is in our favour or will it be our cost.
CAclubindia
