Capital goods definition expanded to cover machinery, accessories, spares and second-hand valuation rules for imports. The amendment redefines capital goods for import relief to include plant, machinery, equipment and accessories for manufacture or production, specified ancillary items and permitted end-uses, and allows spare parts up to 10% of CIF value. It designates the applicable Export and Import Policy, identifies the Licensing Authority for import licences, and prescribes that CIF value of second-hand capital goods be determined as the CIF value of corresponding new goods by the Licensing Authority.
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Provisions expressly mentioned in the judgment/order text.
Capital goods definition expanded to cover machinery, accessories, spares and second-hand valuation rules for imports.
The amendment redefines capital goods for import relief to include plant, machinery, equipment and accessories for manufacture or production, specified ancillary items and permitted end-uses, and allows spare parts up to 10% of CIF value. It designates the applicable Export and Import Policy, identifies the Licensing Authority for import licences, and prescribes that CIF value of second-hand capital goods be determined as the CIF value of corresponding new goods by the Licensing Authority.
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