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Visakhapatnam port allowed to import new vehicles

Vishakhapatnam port has been added by the Commerce ministry to the list of ports and inland container depots (ICDs) for importing new vehicles.

"Vishakhapatnam port is being added to the list of 15 existing ports/lCDs, thereby taking the total number of ports/ICDs to 16, for importing new vehicles," the Directorate General of Foreign Trade said in a notification. 

Imports of new vehicles are allowed only though these 16 ports/ICDs, it said.

The other ports include Nhava Sheva, Mumbai, Kolkata, Chennai, Ennore, Cochin, Kattupalli, Krishnapatnam, Mumbai Air Cargo Complex, Delhi Air Cargo, Chennai Airport, Telegaon Pune, Tughlakabad and Faridabad.

The decision would help to promote the development of automobile industry in Andhra Pradesh. The state has recently bagged the investment from South Koran automobile major Kia Motors to set up a manufacturing plant in the state. 

In a separate public notice, the directorate stated that the government has extended MEIS, an export benefit scheme, for Bengal gram till exports till September 20.

Under the earlier notificiation, the export subsidy was to lapse on June 20.

Under this scheme, the government provides duty credit scrip to exporters. The rates vary from product to product and the export destination, as envisaged in the foreign trade policy.

Rewards under the scheme are payable as percentage of realized free-on-board value and MEIS duty credit scrip can be transferred or used for payment of a number of duties including the basic customs duty.

The government has yesterday increased as well as extended duty benefits to certain agriculture and dairy sector items under a scheme to boost their exports.


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