Hi all,
Our company sells products under 5911.90.90. On 07.07.2009 the rate of duty has been changed to 8% from 4%. On 28.02.2010 all 8% became 10%, no info about 4%. So we continued billing charging 4% C.EX.
Now few days back the fact is revealed, and suddenly they issued a demand notice. Now the question is that we haven't surpress the fact and the fact in shown in ER-1 return, is there any way out e.g., Time Bar Clause..etc.
I know ignorance is not an excuse but is there any clause to safeguard us.
BR.
Priyanka
CAclubindia
