The DGFT also said that to be eligible, each applicant will have to submit a pre-purchase agreement issued by an OEM of the vehicles in the UK.New Delhi: India has notified the procedure for importers to seek government approval to avail quota-based duty concessions on imports of passenger cars and goods vehicles under the Comprehensive Economic and Trade Agreement (CETA) with the UK, which will come into force on July 15.
New Delhi will reduce duties on automotive imports to 10% from about 110% with quotas on both sides, and would allow the import of 3.78 lakh units of conventional engine passenger cars from the UK at concessional customs duty in the first 15 years of the implementation of the India-UK free trade pact.
India will get access to the UK’s electric, hybrid/ hydrogen passenger cars with duty free imports to the country from the sixth year in the price segment ranging from £20,000-80,000 with total quota reaching a peak of 88,000 units from the 15th year and continuing in the subsequent years, the Directorate General of Foreign Trade (DGFT) said in a public notice.
“Only Original Equipment Manufacturers Dealers/Channel Partners duly authorised by the OEMs of vehicles originating in the UK shall be eligible to apply for the TRQ,” DGFT said in a notification dated July 9, adding that at the time of clearance of the import consignment, the importer in India has to produce a Certificate of Origin issued by concerned authorities in the UK. The DGFT also said that to be eligible, each applicant will have to submit a pre-purchase agreement issued by an OEM of the vehicles in the UK.
