Import of second hand machine more than 10 years old.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 March 2015
Dear Sir,
We are planning to import some second hand machinery more than 10 years old i.e (Booking bind machine & offset printing machine) as per an article in economic times in Dec, 2014 govt. proposed to ban the import of second hand capital goods more than 5 years old.
So now my question is:
I have paid an advance for the machinery more than 10 years and the shipment of which will be effected 15 days after from now. If in case the govt. restricts the importation for 5 years old machine in between this transaction will I be able to import the same ?
If not than how can I be assured that my advance pmt. paid for the procurement of these kind of machines in near future also will be safe too.
We are planning to import some second hand machinery more than 10 years old i.e (Booking bind machine & offset printing machine) as per an article in economic times in Dec, 2014 govt. proposed to ban the import of second hand capital goods more than 5 years old.
So now my question is:
I have paid an advance for the machinery more than 10 years and the shipment of which will be effected 15 days after from now. If in case the govt. restricts the importation for 5 years old machine in between this transaction will I be able to import the same ?
If not than how can I be assured that my advance pmt. paid for the procurement of these kind of machines in near future also will be safe too.
RAMESH KUMAR VERMA
(Expert)
27 March 2015
Para 5.1 of NOTIFICATION No. 01(RE-2013)/ 2009-2014 DATED THE 18th April, 2013
"Second hand capital goods shall not be permitted to be imported under EPCG Scheme"
"Second hand capital goods shall not be permitted to be imported under EPCG Scheme"
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