| |
| |
| Limit |
| Upto three vehicles. |
| |
| Conditions |
|
1. |
Vehicle
should not be sold for a period of five years from the date of clearance
of the vehicle. |
|
2. |
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. |
|
3. |
Car
should be registered in the name of the Importer on import of the vehicle
into the country. |
|
4. |
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 |
|
1. |
Importer
can dispose of the vehicle without any restrictions after a period of five
years. |
|
2. |
Another
car can be imported by the Importer under this scheme only after a period
of five years from the date of importation of the previous vehicle. |
|
|
| |
|
