The DGFT amended and issued the notification on the import policy condition of cashew kernels (broken) and cashew kernel (whole) in to provide that the Minimum Import Price (“MIP”) on Cashew kernel (broken/whole) will not be applicable for imports by 100% Export Oriented Units (“EOUs”) and Special Economic Zones (“SEZs”) units, subject to the condition that the same are not sold into Domestic Tariff Area (“DTA”).
In accordance with the authority granted by Section 3 read in conjunction with Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, read in conjunction with Paragraphs 1.02 and 2.01 of the Foreign Trade Policy (FTP) 2015–2020, as amended from time to time, the Central Government hereby modifies the import policy condition of cashew kernels (broken) under ITC(HS) Code 08013210 and cashew kernel (whole) under ITC(HS) Code.
In case Cashew kernel (broken), the existing policy was import free if CIF value is above Rs. 680/- per Kg. However the revised one is that the MIP conditions, however, shall not be applicable for imports by 100% Export Oriented Units (EOUs) and units in the SEZ. Also, SEZs and EoUs units shall not be allowed to sell the imported Cashew Kernels into Domestic Tariff Area (DTA).
Further in case of Cashew (whole), the existing policy was import free if CIF value is above Rs. 720/- per Kg. The revised one is the MIP conditions, however, shall not be applicable for imports by 100% Export Oriented Units (EOUs) and units in the SEZ. The SEZs and EoUs units shall not be allowed to sell the imported Cashew Kernels into Domestic Tariff Area (DTA).
There is an addition about MIP conditions and DTA when contrasting the old and new policies. The free import rule has not been eliminated.
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