| Date: |
11-02-2011 |
| Subject: |
Govt Now Allows BCCI Duty Free Import For WC |
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NEW DELHI: The Government has allowed zero duty import of sports and broadcasting equipment by BCCI for the World Cup cricket tournament starting February 19.
Last month the government had de-recognised BCCI as a a national sports federation and had decided to take away the customs duty benefits it enjoyed.
"The Central Government hereby exempts the (specified) goods...when imported into India for the purpose of organising the ICC World Cup 2011, from the whole of the duty of customs leviable...," a Finance Ministry notification said.
The concessions come within three weeks after the Centre had withdrawn customs duty exemption on import of goods by the BCCI or bodies certified by it, following non-compliance of mandatory requirements.
The decision on January 17, took away the exemptions following the Sports Ministry de-recognising BCCI as a national sports federation or the apex body for cricket in India.
As per the latest notification dated February 9, duty relaxation has been given on sport equipment; medical instruments; photographic and audio-visual equipment; broadcast equipment and supplies; and computer and other office equipment.
The duty waiver would be on goods imported by the Board of Control for Cricket in India (BCCI) or by any importer authorised by BCCI in relation to World Cup, 2011.
The importers of equipment for World Cup, however will have to furnish a bond for the value of the imported goods supported by a bank guarantee to the extent of 25 per cent.
Besides, the imported goods would have to be re-exported within three-months from the date of official closure of the World Cup.
The imports and the subsequent re-export would be allowed from the sea ports at Mumbai or Chennai, Inland Container Depot at Tuglakabad. The imports would also be allowed from airports at Mumbai, Chennai or Delhi.
India along with Bangladesh and Sri Lanka is organising the ICC World Cup Cricket 2011 which is being co-hosted by BCCI.
Source : economictimes.indiatimes.com
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