On the request of the importer, the Customs may provisionally assess and release the goods, subject to the importer furnishing a security amount equal to 100 per cent of the difference between the duty provisionally assessed under section 18 of the Customs Act, 1962 and the preferential duty claimed. All classes of importers, including Authorised Economic Operators, are required to furnish 100 per cent of differential duty as a security if provisional assessment is requested by the importer when inquiry is initiated in terms of rule 5, or when verification is initiated in terms of rule 6(1)(a) or 6(1)(b) of the said Rules.
RBI Notification no. IECD 16/04.02.02/2002-03 dated April 1, 2003 says that supply of goods and services from Domestic Tariff Area to SEZ area would be eligible for export credit facilities. The scheme for interest equalisation that applies to pre-shipment credit does not exclude supplies to SEZs.
The shipping bill cannot be amended at this stage. So, you can explain the matter to your bank and seek a write-off for the shortfall in realisation of export proceeds. You have to surrender the excess drawback received with interest, as well as the excess GST refund received in cash along with interest. If for any reason your bankers hesitate to grant the write-off, you can approach the RBI through your bankers.
queries related to excise, VAT and exim policy. You can write to us at firstname.lastname@example.org
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