Sir ,
We have import the Input Raw Material under Advance license with out payment of Custom and Excise duty .
Now we have import this Input material against Export order of party . But due to some circumstances Customer cancel the order .
Now we have to dispose off this input material .
Plz guide us Customs and Excise formalities .
Thx
SNEHAL SHAH
Guidance on customs duties and penalties for disposing of imported raw materials under Advance License after order cancellation. An individual inquired about the customs and excise formalities required to dispose of input raw materials imported under an Advance License after a customer's order was canceled. Respondents advised paying the applicable customs duty, interest, and penalties before disposing of or using the materials. One respondent suggested contacting the port of import for guidance and informing the Directorate General of Foreign Trade (DGFT) about the duty payments. The inquirer further asked if the materials could be sold locally or used in production after settling the dues. (AI Summary)