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Centre rationalises norms for imports of foreign cars
S Venkitachalam
New Delhi, May 3: The government has rationalised the procedure regarding import of passenger cars/jeeps/multi-utility vehicles by allowing the facility to eight categories of persons/entities from April 1 this year.No licence will be required, but imports will attract full customs duties and no foreign exchange outgo directly or indirectly, says a notice issued by the Director-General of Foreign Trade.Further, the notice says imports shall carry a `No sale' condition of two years endorsed by the customs on the passport/registration documents at the time of import. The eight categories include companies incorporated in India with foreign equity holding, branches/offices of foreign firms, legal heirs/successors of diseased relatives residing abroad, physically-handicapped persons, individuals coming to India for permanent settlement after two years contiuous stay abroad. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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