Project imports

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..... a variety of goods are imported for setting up an industrial project their separate classification and valuation for assessment to duty becomes cumbersome. Further, the suppliers of a contracted project, do not value each and every item or parts of machinery which are supplied in stages. Hence, ascertaining values for different items delay assessment leading to demurrage and time and cost overruns .....

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..... jects to which heading 9801 applies are; irrigation project, power project, mining project, oil/mineral exploration projects, etc. Such an assessment is also available for an industrial plant used in the process of manufacture of a commodity. The Central Government can also notify projects in public interest keeping in view the economic development of the country to which this facility will apply. .....

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..... consumables up to 10% of the assessable value of goods can also be imported under Project Import. 2.5 The purposes for which such goods can be imported under the Project Import Scheme are for "initial setting up" or for "substantial expansion" of a unit of the project. The "unit" is any self- contained portion of the project having an independent function in the project. A project would fall unde .....

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