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Relaxation in import policy for specified it assets

Posted On - 5 January, 2024 • By - KM Team

Import of second-hand goods is governed by paragraph 2.31 of the Foreign Trade Policy 2023 which requires obtaining an authorization/ license for various products such as desktops, laptops, etc. prior to their import. The Directorate General of Foreign Trade has issued Notification No. 56/2023 dated 01 January 2024 (Notification) relaxing the import policy of certain used IT assets (laptops, monitors, desktops and printers) when imported from a Special Economic Zone (SEZ) into a Domestic Tariff Area (DTA) (read the Notification here).  As per the Notification, imports (from SEZ to DTA) in the following cases will not require an authorization/ license:

1. Used IT assets are moved from the SEZ for their further use in DTA operations only, subject to such assets being used for a minimum period of two years in the SEZ area and such assets are not older than five years from the date of manufacturing.

2. If the SEZ unit is closing down its operations and relocating to the DTA, subject to such assets being not older than five years from the date of manufacturing.  If such assets had entered the SEZ area in second hand /used/old condition, then the minimum usage period in the SEZ area should not be less than two years.

The aforesaid relaxations would apply only if the assets proposed to be imported into the DTA were not granted any exemption (during initial import into the SEZ) from any regulatory requirements i.e. Compulsory Registration Order, Wireless Planning and Coordination, Restriction of Hazardous Substances.

The information contained in this document is not legal advice or legal opinion. The contents recorded in the said document are for informational purposes only and should not be used for commercial purposes. Acuity Law LLP disclaims all liability to any person for any loss or damage caused by errors or omissions, whether arising from negligence, accident, or any other cause.

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