Govt allows tour operators,hotels to import cars,SUVs under Served from India Scheme

Announcing the supplementary Foreign Trade Policy FTP for the fiscal,he said this is being done to encourage export of services,especially in the tourism sector.

The FTP document said the SFIS scrips can be used for payment of import duties.

The service providers are entitled to duty credit scrips under SFIS at the rate of 10 per cent of free foreign exchange earned during a financial year.

However,Sharma said the entitlement would now be calculated on the basis of net free foreign exchange earned meaning after deducting foreign exchange spent from the total foreign exchange earned during the financial year.

However,users of the scrip to import vehicles will be required to submit proof of registration for tourism purposes within 6 months.

Further,these vehicles will not be allowed to be imported under EPCG scheme,Sharma added.

In another step to facilitate import of motor vehicles,the FTP said the import of cars and vehicles will also be allowed at Inland Container Depot ICD at Faridabad and Ennore Port.