Second hand Goods
All second hand goods, except second hand capital goods, shall be restricted for imports and may be imported only in accordance with provisions of FTP, ITC (HS), HBP v1, Public Notice or an Authorization issued in this regard.
Import of second hand capital goods, including refurbished / re-conditioned spares shall be allowed freely. However, second hand personal computers / laptops, photocopier machines, air conditioners, diesel generating sets will only be allowed against a licence.
Import of re-manufactured goods shall be allowed only against a licence.
Valuation of Secondhand Goods
Secondhand goods valuation is done as per Rule 9 on the basis of new machine price or on the Original Purchase Price Certified by an Approved Chartered Engineer wherein depreciation value is scaled down by allowing depreciation commensurate with the period of usage. Maximum 70% depreciation is permissible. On the depreciated value, Freight, Insurance and reconditioning cost are added to arrive the CIF price.