Capital goods can be imported with a license under the Export Promotion Capital Goods plan (EPCG) at reduced rates of duty, subject to the fulfillment of a time-bound export obligation.
An advance license is issued to allow duty free import of inputs, which are physically incorporated in the export product (making normal allowance for wastage). In addition, fuel, oil, energy, catalysts etc. that are consumed during their use to obtain the export product, may also be allowed under the plan. The raw materials/inputs are allowed in terms of Standard Input-Output Norms (SION) or self-declared norms of exporter.
All importers must accompany a copy of the L/C to ensure that payment for the import is made. Normally this document is counter-checked with the issuing bank so that outflow of foreign exchange is checked.
If a Bill of Entry is filed without using the Electronic Data Interchange system, the following documents are also generally required:Signed invoice;Packing list;Bill of lading or delivery order/air waybill;GATT declaration form;Importer/CHA declaration;Import license wherever necessary;Letter of credit/bank draft;Insurance document;Industrial license, if required;Test report in case of chemicals;Adhoc exemption order;DEEC Book/DEPB in original, where applicable;Catalogue, technical write up, literature in case of machineries, spares or chemicals as may be applicable;Separately split up value of spares, components, and machinery; and,Certificate of Origin, if preferential rate of duty is claimed.
Hazira container terminal started its operations in March 2013 and became a preferred gateway port for South Gujarat, Central India and North Maharashtra. Presently, the terminal has two container berths with installed capacity to handle 1,000,000 TEUs per annum. Hazira container terminal has congestion free approach roads that allow EXIM trade faster turnaround of their container.