Amendment in Policy Condition No. 1 of Chapter 88 of ITC (HS)
Amendment in Policy Condition No. 1 of Chapter 88 of ITC (HS) 2017, Schedule-I (Import Policy)- Notification No. 21/2015-2020
S.O. 3560(E).—In exercise of powers conferred by Section 3 and Section 5 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government, hereby amends Policy Condition 1 of Chapter 88 ITC (HS) 2017, ScheduleI (Import Policy), as under:
| Existing Policy Condition No.1 | Revised Policy Condition No.1 |
| Aircraft and Helicopters (including used/second hand aircraft and helicopters) may be imported by the following without the need to obtain an import license from Directorate General of Foreign Trade. (a) Air India (b) Pawan Hans Limited (c) Airports Authority of India (d) Indira Gandhi Rashtriya Uran Akademi (IGRUA)/and such other flying clubs/Academies recognised by the Ministry of Civil Aviation, Government of India (e) Any person who has been granted permission by the Ministry of Civil Aviation, to operate scheduled or non-scheduled air transport services, based on which DGCA has issued permission to import aircraft/ helicopter for operating such air transport services. | Aircraft and Helicopters (including used/second hand aircraft and helicopters) may be imported by the following without the need to obtain an import license from Directorate General of Foreign Trade. (a) Air India (b) Pawan Hans Limited (c) Airports Authority of India (d) Indira Gandhi RashtriyaUranAkademi (IGRUA)/and such other flying clubs/Academies recognised by the Ministry of Civil Aviation, Government of India (e) International Financial Leasing Centre (IFSC) based Aircraft Leasing Entity (f) Any person/entity who has been granted NOC for import of aircraft/helicopters by DGCA, for undertaking Scheduled/Scheduled Commuter/ Non-Scheduled Air Transport Services or Aerial Work operations |
Effect of this Notification: Policy Condition no.1 of Chapter 88 of ITC (HS) 2017, Schedule- I (Import Policy),is revised in part (e) to allow import of aircrafts by Aircraft Leasing Entities in IFSC, located in GIFTcity, Gandhinagar, Gujrat in line with the revised Air Transport Circular 02/2017 issued by DGCA. Further, the existing part (e) of Policy Condition 1 is revised and is now part (f) in the revised Policy condition due to amendment in Rule 134B of Aircraft Rules, 1937 and doing away of permission by Ministry of Civil Aviation which is as part of measures to reduce transaction cost and for ease of doing business.
This issues with the approval of Minister of Commerce & Industry.
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