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DGFT NOTIFICATION NO. 34 /(RE-2003) / 2002-2007 dated 6.2.2004
Import Policy on import of new vehicles having an FOB value of US $ 40,000 or more
S.O. (E) - In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No.22 of 1992) read with Paragraph 2.1 of the Export and Import Policy – 2002-07, as amended from time to time, the Central Government hereby amends Para 6(iii) of Notification No. 29 dated 28.1.2004 as under:
“(7) Import of new vehicles having an FOB value of US $ 40,000 or more by :
(a) individuals, (b) companies and firms importing under the EPCG Scheme
will be exempt from the conditions at Sl. No. (2)(II)(c) above. However, at the time of Customs clearance, a Type Approval Certificate / COP of an international accredited agency from the country of origin, including a notarized English translation thereof, shall be furnished. This Type Approval shall stipulate that the vehicle to be imported complies with all the ECE Regulations for the complete vehicle. The international accredited agencies referred to above will be notified separately.
This issues in public interest.
Director General of Foreign Trade and
ex-officio Additional Secretary to the Government of India