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.

Paras Kumar Vaishnav : Sir, Good Day, We planning to set up a Bio Diesel Plant for manufacturing 30,000 Liters per day in Gujarat. I want your advice wheather Bio Diesel Manufacturing Plant Machinery being bio technology, are they exempted from import duty? I await your kind Co operation. Thanks, High Regards, Paras Kumar Vaishnav

raj: Will you please suggest to us what are all the documents required to import biochemical products from australia? It would be a great help. We are beginar and doing first time of importing.

vikas: I saw your website today and went through the content. I am a pharmaceutical marketing professional having an experience of 25 years in Pharmaceutical Industry. I need your kind help and guidance to learn entire process of export and import of Pharmaceuticals ONLY. I took a training course last year on EXPORT docvumentao and procedures but am not satisfied because it has imparted only theoretical knowledge rather than making me confident to start real time exports of my own. Since you being a knowledge spearhead of this arena I request you to please guide me so that I can get complete knowledge and confidence in going ahead with my vision and ambition of Pharma medicine EXPORT and IMPORT. Looking forward to hear from you soon.

manas: We are into pharma marketing in India. Since 1997 , we have 288 brands and marketing team of 200 sales professionals meeting 7000 doctors every month , marketing in UP, UK , MP , majorly and some other parts of India , with 40cr turnover . Under expansion plan we wants to get few product manufactured in Germany and market in Dubai and India

zhang: have branch company in Shanghai and America,total have more than 25 workshops(1 oncology workshop and 1 FDA workshop under construction),more than 4000employees,have 4 R&D centre separately loated in America(Marryland),Shanghai(China),Shandong University(China) and our Head office(Reyoung),Reyoung main export finished medicine in Generic to all over the world including all of dosage form(powder for inj,tablet,capsule,liquids inj,oral suspension etc.),now have exported more than 35 countries,In China,we have branch office in every city,now we are top 20 in China(total have about 7000 manufacturing company in China),till 2012,most of our workshop passed Chinese new GMP inspection and get certificate(New Chinese GMP similar as EU GMP),Anyway,abovementioned only for your reference,really hopefully we can have a long term cooperation on the basis of mutual benefit. Enclosed is our product list,should any of the items be of interest to you?please let us know.We shall be gland to give you our lowest quotations. The countries we export:Hayti,Chile,Uruguay, republic of Benin,Thailand, Peru,Slovenia,Nigeria,Singapore,Mongolia,Philippine,Cambodia,VietNam,Pakistan,Ukraine,Azerbaijan,bolivia,Malaysia,Moldova ,Ethiopia,besides including Hongkong,and so on.We also passed the MOH inspection of Ethiopia,Yemen,Iraq,Ghana,Pakistan,Nigeria,Kazakhstan,Uganda,and the INVIMA of Colombia,Digemid of Peru. Besides we are also the supplier of IDA,Action Medeor and so on. We look forward to receiving your enquiries and hoping to be your partner in the near future. Yours faithfully

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