DGFT amends chapter 88 of ITC (HS) 2017, Schedule I of import policy

Sep 01, 2021 | by Avantis RegTech Legal Research Team

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Finance & Taxation Compliance

The Directorate General of Foreign Trade (DGFT) on August 31, 2021 has amended policy condition no. 1 of chapter 88 of ITC (HS) 2017, Schedule I of Import Policy.

The amendment made is as followed:

• Aircraft and Helicopters (including used/second hand aircraft and helicopters) may be imported by the following without the need to obtain an import license from Directorate General of Foreign Trade.

(a) Air India

(b) Pawan Hans Limited

(c) Airports Authority of India

(d) Indira Gandhi Rashtriya Uran Akademi (IGRUA)/and such other flying clubs/Academies recognised by the Ministry of Civil Aviation, Government of India

(e) International Financial Leasing Centre (IFSC) based Aircraft Leasing Entity

(f) Any person/entity who has been granted NOC for import of aircraft/helicopters by DGCA, for undertaking Scheduled/Scheduled Commuter/ Non-Scheduled Air Transport Services or Aerial Work operations.

[Notification No. 21/2015-2020] [Gazette ID- 229320] 

 


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