Exciting News for Domestic Manufacturers in India! 🇮🇳
Introducing the MOOWR Scheme – Unlocking Growth in Every Industry!
Under this Scheme, all types of production, processing, and packaging machines can be imported duty-free by a manufacturer without payment of customs duty or IGST.
Manufacturers are liable to pay duty only if they remove/sell the imported machinery in the domestic market. No interest is applicable even if machines are sold after, say 10 years.
In other words, as long as the machines are used for manufacturing operations, no duty is payable. This scheme does not mandate any export obligation.
So, get your factory registered under this business-friendly Scheme and start saving on import duties.
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Entities engaged in production processes utilizing imported materials and capital goods are eligible to benefit.
This scheme is particularly advantageous for businesses with predominantly local sales that rely on imported machinery for their manufacturing processes.
It stands as the sole available scheme for such businesses.
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Thanks to Global Tax Masters, we could save around 1.5 Crore customs duty on our machinery imports. Highly recommend them.
Tushar Patel Owner, Marcus Engineers