NOTIFICATION NO. 56/2008, DT. 07/11/2008

Govt. has permitted the import of new vehicles having an FOB value of US$ 40,000 or more

S.O. (E) In exercise of powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 2.1 of the Foreign Trade Policy, 2004-09, the Central Government hereby amends the Schedule-I (Imports) to the ITC(HS) Classifications of Export and Import Items, 2004-09 as under:

1. The existing Import Licensing Note (7) of Chapter 87 shall be amended to be read as under:

“(7) Import of new vehicles having an FOB value of US $ 40,000 or more and engine capacity of more than 3000cc for petrol run vehicle and more than 2500cc for diesel run vehicles by (a) Individuals, (b) Companies and firms or (c) OEMs (Original Equipment Manufacturers - who have manufacturing and service network in India) will be exempt from the conditions at Sl. No. (2) (II) (c) above. However, at the time of Customs clearance, a Type Approval Certificate / COP of an international accredited agency from the country of origin or an EC Type Approval Certificate / Certificate of COP, of an accredited agency from any member state of EU, including a notarized English translation thereof, shall be furnished. This Type Approval shall stipulate that the vehicle to be imported complies with all the ECE Regulations for the complete vehicle. The accredited agencies have been notified vide Policy Circular No. 26 dated 9.2.2004.”

2. This issues in public interest.

Sd/-

(R.S.Gujral)
Director General of Foreign Trade and
Ex-officio Additional Secretary to the Government of India

(Issued from File No. 01/89/180/29/AM09/PC-2(A)

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