The Directorate General of Foreign Trade (DGFT) on September 24, 2024, issued a notification regarding the procedure for implementation of DGFT notifications.
The following has been stated: -
•The Indian government has changed the import policy for certain IT hardware. Earlier, the Directorate General of Foreign Trade (DGFT) had restricted the import of specific IT hardware through notifications 23/2023, 26/2023, and 38/2023.
•Here's what's changed:
-Extended Validity: Importers can now apply for import authorizations that will be valid until December 31, 2024.
-Existing Authorizations: Any import authorizations issued before September 30, 2024, will also remain valid until December 31, 2024.
-Fresh Authorizations: Importers must apply for new authorizations starting January 01, 2025, with detailed guidance to be provided soon.
•It's also important to note that other Policy Circular No. 6/2023-24 provisions remain applicable.
•Additionally, some entities like SEZ units and EOUs/EHTP/STPI/BTP are exempt from obtaining restricted import authorization for IT hardware.
[Policy Circular No. 07 /2024-25]
