Notification No. 56/2023 dated 01 January 2024

Key Pointers -

• It has been amended Para 2.31 of Foreign Trade Policy, 2023 and inserts Para 2.31 [I (e)] regarding used laptops, desktops, monitors, printers Imported from Special Economic Zone (SEZ) to Domestic Tariff Area (DTA).
• The import policy will be free if the used asset is moved from SEZ to DTA without a license for DTA operations only, there must be minimum usage of 2 years in the SEZ unit, and the goods are not older than 5 years.
• In case of closing down of SEZ operations and re-locating to DTA the import of such asset is allowed without license provided that the goods are not older than 5 years from the date of manufacturing. However IT assets that have entered the SEZ area in second hand/used/old condition and have been used in the SEZ area for less than 2 years are not covered.
• The above relaxations shall be applicable if no exemption from any regulatory requirements (i.e., CRO, WPC, RoHS) was availed at the time of import of the Used IT Assets into the SEZ.
• Import of any Used IT Assets which do not fulfill the above-mentioned criteria shall be subject to a license for Restricted Import.