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Restriction on import of computers, laptops, tablets and servers to be effective from 1 November 2023
This Tax Alert summarizes the recent notification [1] issued by by the Directorate General of Foreign Trade (DGFT) providing liberal transitional arrangements for import of computers, laptops, tablets, servers etc. till 31 October 2023.
Earlier, import of laptops, tablets, all-in-one personal computers, ultra-small form factor computers and servers falling under HSN 8741 was put under 'Restricted' category w.e.f. 3 August 2023, subject to certain exceptions.
Through present notification, it is provided that restriction shall be effective from 1 November 2023. Import consignments can be cleared till 31 October 2023 without a license for restricted imports. For clearances post 1 November 2023, a valid license for restricted imports shall be required.
Comment:
The extension is likely to provide much needed relief to the industry. The businesses may need to plan their procurements accordingly.
[1] Notification No. 26/2023 dated 4 August 2023