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Tighter norms for import of high-end cars

NEW DELHI: The Union Government on Wednesday tightened the norms for import of high-end cars and sports utility vehicles by hotels, travel agents and tour operators following reports of misuse of tax concessions available on import of vehicles for tourism. “In order to ensure proper and intended use of vehicles under Export Promotion Capital Goods (EPCG) Scheme, customs authorities will endorse that such vehicles have to be registered as a vehicle ‘for tourist purpose only’ while clearing such vehicles,” a Directorate-General of Foreign Trade (DGFT) circular said. — PTI

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