EPCG SCHEME -RIGHT OF BANKER, Customs - Exim - SEZ

[SATISH SHETTY]

WE HAVE IMPORTED SOME MACHINERY UNDER EPCG SCHEME, BUT COULD NOT COMPLY WITH EXPORT OBLIGATION. NOW OUR BANKER WOULD LIKE TO SELL THOSE MACHINERY TO RECOVER OUR DUES. WE ALSO WANT TO COME OUT OF THE LIABILITIES. WHETHER THE PURCHASER OF MACHINERY IS LIABLE TO PAY THE CUSTOM DUTY? PLEASE REPLY. (BANK IS SELLING IT UNDER SARFEASI ACT.)

Posts / Replies

[pradeep khatri]

Dear Satish,

I have submitted reply to your query.  Further, please check that in this scenario who would have the first charge on the Machine which had been imported under EPCG Scheme. Also discuss this issue with your Central Excise Superintendent, Customs Department, your counsel and with the concerned DGFT.

Best Regards,

Pradeeep Khatri

 

[r.rajkumar kumar]

yes have to pay the customs plus other duty with interest. .