Project Imports and the advantages of importing under Project Import Regulations :
  • Project Imports are the imports of machinery, instruments, and apparatus etc., required for initial setting up of a unit or for substantial expansion of an existing Unit.

  • Some of the advantages of importing the goods under Project Import Regulations are that all the machinery, appliances, instruments etc., imported are charges to duty at flat rate of duty under the same tariff heading.

  • Project Imports assessment is a scheme of assessment which is designed to help expeditious and easy assessment of variety of industrial goods falling under different chapters of the Customs Tariff,. The importer to arrive at the cost structure etc can easily work out estimation of import duty payable.
Relevant provisions in the Customs Tariff and the conditions to be fulfilled to avail of the benefits :
  • The goods imported under the Project Import Regulations are classified under Heading 9801.00 of the Customs Tariff and to be eligible for classification of the goods under this Heading, the importer, should comply with certain conditions as stipulated under the Project Import Regulations, 1986.

  • Only contracts, which are registered with the Custom house of import, will be eligible for assessment under Heading No. 98.01. This registration must have been obtained before an order of clearance for home consumption is passed by the proper officer of Customs

  • Apart from the machinery, spares up to 10 percent of the value of machinery, are also eligible for the benefit of the Project Import Regulations, 1986.

  • The benefit is available only to such of the goods forming apart of the plant. The goods imported for manufacture of the finished product (end product) of the plant are not eligible for the benefit of Project Import Regulation 1986.