MOCI Notification
Recently ministry of commerce issued a notification No.5/2015-2020 dated 7th May 2019, which amends the earlier notification No.50/2015-2020 dated 8th Jan 2019 regarding the imports of electronics and IT goods. Unlike the earlier notification dated 8th Jan 2019 which had amended only the General Notes Regarding Import Policy of ITC (HS) 2017, the current notification amends Chapter 85 and Chapter 84 by inserting Policy Condition 5 and 2 respectively (last pages of these documents).
Compared to Past
Now how is the current notification (dated 7th May 2019) different from the earlier notification (dated 8th Jan 2019)? Actually, they are the same except for the fact the imported “IT Goods” has now been defined as both “New” as well as “Refurbished”. Amended text is reproduced as under.
