Import of vehicles under EPCG
DGFT has amended the policy regarding import of vehicles under EPCG Scheme.
import of motor cars, sports utility vehicles/all purpose vehicles shall be allowed only to hotels, travel agents, tour operators or tour transport operators and companies owning/operating golf resorts whose total foreign exchange earning from the hotel, travel & tourism and golf tourism sectors in the current and preceding three licensing years is Rs 1.5 crores or more.
The ‘duty saved’ amount on all EPCG licences issued in a licensing year for import of motor cars, sports utility vehicles/all purpose vehicles shall not exceed 50% of the average foreign exchange earnings from the hotel, travel & tourism and golf tourism sectors in the preceding three licensing years.
parts of motor cars, sports utility vehicles/ all purpose vehicles such as chassis etc. cannot be imported under the EPCG Scheme.
NOTIFICATION NO. , Dated: January 17, 2006
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