imported goods rejection

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..... Dear Sir, we are importers of mechanical parts, we imported some screws from the Netherlands which got rejected. Recently our supplier informed us to scrap these screws (shipment weight 3 kg only). Now our bank (ICICI bank has been asking us to pay the supplier. How to handle this please guide. Sujit K Mishra ISE BOTECO Tekplast India Pvt Ltd Chandigarh 9915178662 [email protected] - Reply .....

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..... By KASTURI SETHI - The Reply = Sh. Mishra Ji, The bank is legally right. The amount in question should not remain outstanding. It has to be settled. You have two options :- 1. Persuade the exporter (outside India) to issue credit note. 2. Re-export the defective goods and claim drawback (98% of duty paid). For re-export of defective imported goods, procedure is laid down in Circular .....

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..... No. 45/2011-Cus., dated 13-10-2011 - Reply By raghunandhaanan rvi - The Reply = It is not clear whether the goods have been customs cleared by the importer and duty paid. Goods if cleared, the following options are available to the importer Re-export the defective goods to the seller for a free replacement OR Abandon or relinquish the title of the goods to customs within 30 days .....

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..... of import clearance or such extended period, the Commissioner of Customs may allow in terms of Section 26A And claim a refund of the duty so paid Receive free replacement goods Approach AD bank to make import remittances based on these documents - Reply By KASTURI SETHI - The Reply = Dear Sir, Thank you very much for detailed reply. - Reply By Shilpi Jain - Th .....

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..... e Reply = You could consider getting a credit note from the foreign supplier - Reply By raghunandhaanan rvi - The Reply = Yes Shilpa ji ..Thank you Shri. Kasthuri Sethi Saab and Shilpa ji mam. - imported goods rejection - Query Started By: - SujitK Mishra Dated:- 13-7-2023 Customs - Import - Export - Customs - SEZ - Got 5 Replies - Customs - Discussion Forum - Knowledge Sharing, reply post b .....

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..... y an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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