Duty Free Imports for pharmaceuticals and bio technology sectors

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Duty Free Imports for pharmaceuticals and bio technology sectors

 

 

Duty Free Imports for pharmaceuticals and bio technology sectorsThis post explains about duty free imports for specific sectors like pharmaceuticals and biotechnology sectors as per Foreign Trade Policy.

Duty Free Imports for pharmaceuticals and bio technology sectors

This post explains about duty free imports for specific sectors like Research and Developments equipment for pharmaceuticals and biotechnology sectors.

According to Foreign Trade Policy of India, the following guidelines can be noted on duty free import of goods:

(i) Duty free import of goods (as specified in list 28 of Customs notification No.21/2002 dated 1.3.2002, as amended from time to time) upto 25% of FOB value of exports during preceding licensing year, shall be allowed.

(ii) The eligible unit may furnish an application given in Appendix-8A to RA concerned duly countersigned by Chartered Accountant.

(iii) In respect of duty free import of R&D equipment, units not registered with Central excise shall be allowed to give Installation Certificate issued by an independent Chartered Engineer.

 

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The above information is a part of Online export import training guide


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Comments


aayush pant: dear author, I would like to know if there is any duty free or concession on the import of plant and machinery for a bio diesel plant. If there is could you help me with the notification which states so.

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