Notification No. 56/2023-DGFT
The Ministry of Commerce & Industry, Government of India, in collaboration with the Directorate General of Foreign Trade and the Department of Commerce, has released Notification No. 56/2023-DGFT on January 1, 2024.
This notification primarily amends Para 2.31 of the Foreign Trade Policy, 2023, with a specific focus on the import regulations governing Used IT Assets (laptops, printers, desktops, monitors) being brought from Special Economic Zones (SEZ) to the Domestic Tariff Area (DTA).
A notable amendment has been introduced, specifically with the inclusion of Para 2.31 [I (e)], which delineates the import regulations for Used IT assets such as laptops, desktops, monitors, and printers. Although the import of these assets from SEZ to DTA is constrained, specific conditions have been outlined to streamline the process.
Conditions for Import
- The transportation of Used IT Assets from SEZ to DTA can occur without the need for a Restricted Imports License, provided that the assets have been in use for a minimum of 2 years in the SEZ area and are not older than 5 years from the manufacturing date.
- In cases where a unit closes operations in the SEZ and relocates to DTA, import without a Restricted Imports License is permitted, given that the assets are not older than 5 years from the manufacturing date.
- However, this relaxation is contingent upon the condition that no exemptions from regulatory requirements (CRO, WPC, RoHS) were availed of during the import of Used IT Assets into the SEZ.
License for Restricted Import
If the Used IT Assets do not meet the specified criteria, a License for Restricted Import will be required.
To Sum Up
This notification marks a significant evolution in the Foreign Trade Policy, simplifying the import process of Used IT Assets from SEZ to DTA. Businesses involved in such transactions must adhere to the stipulated conditions to take advantage of the more lenient import policy. This amendment aligns with the government’s commitment to facilitating trade and encouraging the efficient utilization of IT assets within the country.
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