We are 100% export oriented unit with 45 crores anuual turn over, manufutering and export all types of floor coverings.Also we are star hosue exporter. On the basis of star house status . Can we import a foreign car with out duty.also please give me the deatils of foreign car import notification in the star house export benifits ? awaiting urgent reply
Import of foreign car without import duty
Suvarna Kumar
Export-Oriented Companies Can't Import Cars Duty-Free; Benefits Limited to Manufacturing Capital Goods Per Trade Policy. A company, classified as a 100% export-oriented unit and a star house exporter, inquired about the possibility of importing a foreign car without paying import duty, leveraging their status. Two responses clarified that under the Foreign Trade Policy and relevant notifications, duty-free import benefits apply only to capital goods necessary for manufacturing or production, not for vehicles. Additionally, it was emphasized that even as a star house, the company cannot import a car without duty, referencing specific policy provisions and guidelines. (AI Summary)
TaxTMI
TaxTMI