Duty Free Import of R&D Equipment for Pharmaceuticals and Bio-technology Sector

2.55

Duty free import of goods (as specified in the list 28 of Customs notification No.21/2002 dated 1.3.2002, as amended from time to time) upto 25% of the FOB value of exports during the preceding licensing year, shall be allowed to the manufacturer exporters having Research and Development wing which is registered with the Department of Scientific and Industrial Research in the Ministry of Science and Technology subject to fulfillment of condition number 53(ii) of the said notification.

The eligible unit may furnish an application given in Appendix-34 to the Regional Licensing Authorities under whose jurisdiction the registered office of company or head office of the firm is located.

The Regional Licensing Authority shall verify the application on the basis of the declaration given by the unit and countersigned by Chartered Accountant.