EPCG obligation

This query is : Resolved

CA Jeen paul (Querist)
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19 March 2011
1) we are a Pvt. Ltd co. running a convention centre – (90% of the total revenue is generated from the convention centre)
2) during construction period we have imported construction materials and other capital goods from China under EPCG Licence scheme
3) The export obligation started from 2006-07 financial year and now the first block of 4 years have elapsed and return filing is overdue
4) During these 4 years we could collect only Rs. 75000/- as against Rs 2 crore export obligation
5) We have enough export revenue from group concern
6) Under these circumstances what we have to do to regularise the formalities.

please advice