Home India Ministry of Commerce and Industry In exercise of powers conferred by Section 3 of FT D and R A...
Date: 2018-03-28 Category: Extra Ordinary State: Union Government Country: India

In exercise of powers conferred by Section 3 of FT D and R Act, 1992, read with paragraph

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

This notification, No. 58/2015-2020, issued by the Directorate General of Foreign Trade, Ministry of Commerce and Industry, dated March 28, 2018, amends paragraph 2.31 of the Foreign Trade Policy 2015-2020. The amendment, under S.O. 1417(E), incorporates Para 2.31 III, which pertains to the import policy for second-hand goods. Specifically, it addresses the import of second-hand goods for repair, refurbishing, reconditioning, or re-engineering purposes. The import of such goods is free, subject to the condition that any waste generated during these processes is treated according to domestic laws, rules, orders, regulations, technical specifications, environmental safety, and health norms. Furthermore, the imported item must be re-exported as per the Customs Notification. This notification defines the import policy for second-hand goods imported for the specified purposes of repair, refurbishing, reconditioning, or re-engineering. The file number for this notification is F. No. 01/93/180/05/AM-18/PC-IIB/e-1192. Alok Vardhan Chaturvedi, Director General of Foreign Trade, issued the notification.

Key Entities Referenced

Foreign Trade Policy, 2015-2020: A policy document related to foreign trade, which is being amended by this notification. Foreign Trade Development and Regulation Act, 1992: The Act that confers powers to the Central Government to make provisions related to foreign trade. Central Government: The governing authority responsible for incorporating the amendment to the Foreign Trade Policy. Directorate General of Foreign Trade: The organization, under the Ministry of Commerce and Industry, responsible for foreign trade regulation and facilitation. Ministry of Commerce and Industry: The government ministry responsible for policies related to commerce and industry. New Delhi: The location of publication of the notification. New Delhi, Delhi. Alok Vardhan Chaturvedi: The Director General of Foreign Trade. Customs Notification: A legal instrument issued by the customs department to provide clarity/modification in policies
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