Our company has imported r/m from china thru their Mumbai agents / office. After receipt of goods at Hyderabad, we have got the procurement certificate and filed Bill of entry also.
We have entered this transaction in our B-17 bond also. But at the last moment, the consignment was not released because of difference in the invoice value which was used in all these filings.
The thing is we have filed the procurement with the manufactureres invoice with a lower value instead of the vendor invoice which will be higher value. But subsequently, we have got the vendor invoice thru bank and paid that value (higher value) to the bank.
Amending the procurement and bill of entry eats up lot of time and also should pass thru several officials at Hyderabad and Mumbai level and we have to incur demurrhage charges to the liners.
Pls suggest any alternate ways to get our consignment cleared soon.