Monthly Archives: June 2012

Depreciation norms for Import of used Motor Vehicles into India

Dated 29th June 2012 For every quarter during 1st Year 4% For every quarter during 2nd Year 3% For every quarter during 3rd Year 2.5% For every quarter during 4th Year 2% Instruction apply from 26 May, 1993. (Ref. F.No. … Continue reading

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EXPORT/IMPORT OF SECOND HAND/USED MACHINERY IN/TO INDIA

Dated 29th June 2012 The following guidelines govern the import of second hand machinery into India.The following provisions(paras) of the Foreign Trade Policy lays down the broad parameters: 2.17 All second hand goods, except second hand capital goods, shall be … Continue reading

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PAYMENT OF R&D CESS ON IMPORT OF TECHNOLOGY IN INDIA

Dated 04th June 2012 R&D Cess is required to be paid by importers of technology in INDIA in terms of any foreign collaboration agreement. The precise terms and conditions in this regard is specified in the R&D Cess Act ,1986. … Continue reading

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CUSTOMS BAGGAGE ALLOWANCE LIMITS PRESCRIBED IN INDIA

Dated 02nd June 2012 The Baggage allowance limits are precribed vide Baggage (Amendment) Rules, 2006 which essentially amnended the Baggage Rules of 1998.Please find attached a word document incorporating the latest changes in the Baggage Rules vide NOTFN NO: 21/2012 … Continue reading

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