Capital goods import conditions require presentation of EPCG licence at clearance and set definition and valuation rules. The amendment requires that imported capital goods be covered by a valid EPCG licence produced for debit at customs clearance; defines 'Capital Goods' to include plant, machinery, accessories, packing and testing equipment, R&D equipment, refractories, power generating sets, and spare parts limited to 10% of the CIF value; and provides that for second hand capital goods the CIF value shall be the CIF value of corresponding new capital goods as determined by the licensing authority.
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Provisions expressly mentioned in the judgment/order text.
Capital goods import conditions require presentation of EPCG licence at clearance and set definition and valuation rules.
The amendment requires that imported capital goods be covered by a valid EPCG licence produced for debit at customs clearance; defines "Capital Goods" to include plant, machinery, accessories, packing and testing equipment, R&D equipment, refractories, power generating sets, and spare parts limited to 10% of the CIF value; and provides that for second hand capital goods the CIF value shall be the CIF value of corresponding new capital goods as determined by the licensing authority.
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