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of <h1>Import Rules for Cars and Microbuses Under 5% EPCG Scheme Updated; Status Hotels Exempt from Bank Guarantee Requirement.</h1> The circular from the Directorate General of Foreign Trade addresses the import of cars and microbuses by travel agents and tour operators under the 5% EPCG Scheme. Initially, both the Hotel and Tourism Industries were required to provide a bank guarantee (BG) equivalent to 100% of the duty saved on imports. However, hotels with status certificates are now exempt from this requirement, aligning with previous exemptions under the 0%/10% EPCG Scheme. The circular clarifies that both status and non-status holders in the Hotel and Tourism industries can apply for imports under the scheme, with the BG requirement applicable except for exempted cases.
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