Import dues pending from more than 3 years.
This query is : Resolved
Quick Summary
08 June 2021
We imported used machines and due to quality issue all machines were not in operational condition. payment could not do 3 years. after mutual understanding come on a conclusion that we are not paying the import dues. For settling the same the supplier has given us a confirmation on mail with credit notes, to write off the dues. Please advice what is the procedure for write off the import dues from the RBI and what is rule of RBI if not pay dues amount ?
CA R SEETHARAMAN
(Expert)
08 June 2021
As per FEMA Rules payment can be withheld for guarantee issues. You received credit note for payment so no problem write it off.
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