New Delhi: The govt on Tuesday explained import of tyres under the Duty Totally free Import Authorisation (DFIA) plan will not not be allowed. Less than the DFIA plan, exporters are allowed to import solutions at zero duty for a few years.
In a notification, the Directorate Typical of Foreign Trade (DGFT) explained a new sub-para in a chapter in the Foreign Trade Coverage 2015-20 “for disallowing import of tyres under DFIA plan is launched”.
Previously in March, the DGFT had imposed curbs on imports of sure new pneumatic tyres utilised in motor vehicles, buses, lorries and motorcycles in a transfer to market domestic production.
Putting the merchandise under a limited group implies an importer would need a licence or permission from the DGFT for imports.
The govt is taking methods to market domestic production and decrease import invoice of non-vital merchandise.