Import under project import - benefit

[chaganti srinivas]

I want to set up manufacture plant and planning to import machinery. Can i import under project imports?. what is the benifit i will get?. I do not have any export oblication or any concessional rate duty payments. please give the procedure.

[Markesh Antony]

Project Imports Regulations, 1986 (available on this site) are providing the manner and procedure of import of project import. Chapter 98 of the Customs Tariff is providing the rate of tariff relating to project import, you need to visit the relevant notification for effective rate of customs duty on project import.

AI Summary

Project import procedure requires compliance with Project Import Regulations and tariff notifications under customs tariff. Project importation of machinery for a manufacturing plant is governed by the Project Imports Regulations, which prescribe application, documentation, approval and clearance procedures. Customs duty applicable to project imports is determined by tariff entries related to Chapter 98 and by specific notifications; importers must consult those notifications to determine the effective duty rate and any conditional concessions or obligations.