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of <h1>Customs Act Amended: Imported Capital Goods Must Have EPCG Licence at Clearance; Includes Machinery and Spare Parts</h1> The Central Government amended Notification No. 160/92-Customs, dated April 20, 1992, under the Customs Act, 1962, to align with public interest. The amendment requires imported capital goods to have a valid licence under the Export Promotion Capital Goods (EPCG) Scheme, presented at clearance. 'Capital Goods' now include machinery for manufacturing, packing, testing, R&D, and power generation, along with spare parts up to 10% of the CIF value. For second-hand goods, the CIF value refers to the equivalent new goods' value as determined by the licensing authority.
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