| |
| Limit |
| |
| One
vehicle. |
| |
| Conditions |
| |
|
| 1. |
Contract
period for the employment, assignment or stay of the Importer in India
shall not be less than one year. |
| 2. |
Importer
can import his own used vehicle which was in his possession abroad. |
| 3. |
Vehicle
should not be sold for a period of five years from the date of clearance
of the vehicle. |
| 4. |
If
the Importer wants to sell the vehicle within a period of five years, then
the vehicle should be re-exported or sold to the State Trading Corporation
of India or to any other eligible Importer. |
| 5. |
Car
should be registered in the name of the Importer on import of the vehicle
into the country. |
| 6. |
Importer
should execute a bond undertaking to fulfill the conditions applicable to
import for an amount equal to Customs assessed c.i.f. value of the
vehicle. The bond shall be valid for a period of five years and it
may not be supported by a bank guarantee. |
|
|
|
| |
| Special
cases |
| |
| If
the importer transfers his residence out of India again, another car can
be imported under this scheme only after a period of five years from the
date of importation of the previous vehicle. |
|
|
| |
|
