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Government hikes electronic goods import limit for personal use from 2,000 to 50,000

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mgdelhi

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NEW DELHI: Government has substantially raised the limit for import of electronic goods 'through post or otherwise' for personal use to Rs 50,000 from Rs 2,000 earlier.

"CIF (Cost, Insurance and Freight) value of import of consumer electronic items at any one time by any person through post or otherwise for personal use is enhanced to Rs 50,000," the Directorate General of Foreign Trade (DGFT) said in a notification.

Source:
Government hikes electronic goods import limit for personal use - The Economic Times
 

devilwearsprada

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Re: Government hikes electronic goods import limit for personal use from 2,000 to 50,

So if we import speakers we don't have to pay duty ? :D
 

shibashis

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Re: Government hikes electronic goods import limit for personal use from 2,000 to 50,

In plain terms does that mean then till 50K we do not pay duties anymore? If so happy days!
 

shankarcams

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Re: Government hikes electronic goods import limit for personal use from 2,000 to 50,

The article says that only a license requirement is waived. Presumably duty will have to be paid.
 

sud98

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Re: Government hikes electronic goods import limit for personal use from 2,000 to 50,

It means one can import items through post/courier upto 50k from 2k. You will still be needed to pay duty as applicable.

Although I did get my NAS shipped from the UK without any issues, so not sure if they seriously applied this.
 

arunkvivek

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Re: Government hikes electronic goods import limit for personal use from 2,000 to 50,

Here is the actual notification. As stated by many FMs, it is only an exemption for license requirement. I recall that one of the FMs was summoned for importing without a license. That hassle would be gone if CIF value is less than 50K. Duties are still on until rate cards in customs duty act has an amendment.
 

Audio_Freek

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Re: Government hikes electronic goods import limit for personal use from 2,000 to 50,

So we could expect Price fall for All AV items which is lesser than 50K (BD rate+Shipping+Handling Charge) from Dealers? Since the dealers would have License to Import.

Correct if am wrong
 

sud98

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Re: Government hikes electronic goods import limit for personal use from 2,000 to 50,

So we could expect Price fall for All AV items which is lesser than 50K (BD rate+Shipping+Handling Charge) from Dealers? Since the dealers would have License to Import.

Correct if am wrong

Its only for personal use that there is no license. If its for Distribution, they would need it, so makes no difference.
 

Naturelover

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Re: Government hikes electronic goods import limit for personal use from 2,000 to 50,

This is only probably to redress the suffering brought by the silly rule of a couple (?) of years back that you needed a license to import anything above Rs 2,000. Lots of people who wanted to import something for personal use had suffered.
 

skdas

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Re: Government hikes electronic goods import limit for personal use from 2,000 to 50,

Does it mean ,its all clear to buy imported items up to 50K?

What about 'whimsical" way of charging of duty by Indian Custom officer,Is it a end??
 

nindo

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Re: Government hikes electronic goods import limit for personal use from 2,000 to 50,

The "whimsical" way cannot be changed so soon, I guess. Thats why its "whimsical" in the first place;)
Any case at least now you can import "consumer electronics" upto 50K INR without needing a license and this notification can be presented in case the (intentionally or unintentionally) uninformed customs officer creates hassles.:clapping:
 
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