EPCG restrictions on vehicle imports: tourism-sector eligibility tightened with earnings, duty saved limits and registration requirements. The notification restricts EPCG imports of motor cars and SUVs to specified tourism-sector entities meeting a minimum total foreign exchange earnings threshold over the current and preceding three licensing years, prohibits import of vehicle parts under the scheme, caps the duty saved amount on vehicle authorisations at fifty percent of the average foreign exchange earnings in the preceding three licensing years, and requires vehicles to be registered for tourist use with registration certificates submitted to the Licensing Authority.
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Provisions expressly mentioned in the judgment/order text.
EPCG restrictions on vehicle imports: tourism-sector eligibility tightened with earnings, duty saved limits and registration requirements.
The notification restricts EPCG imports of motor cars and SUVs to specified tourism-sector entities meeting a minimum total foreign exchange earnings threshold over the current and preceding three licensing years, prohibits import of vehicle parts under the scheme, caps the duty saved amount on vehicle authorisations at fifty percent of the average foreign exchange earnings in the preceding three licensing years, and requires vehicles to be registered for tourist use with registration certificates submitted to the Licensing Authority.
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