Import Machines Without
Payment of Customs Duty
No Export Obligation
No Interest Applicable
No Bank Guarantee Required
India allows duty free import of capital goods to all the manufacturers under MOOWR Scheme.
The Indian Government has launched a new scheme to promote manufacturing in India. Under the MOOWR scheme, all the manufacturers can import capital goods/ plant and machinery without payment of Customs duties. Currently, the general rate of Customs duty is around 27.73%.
You can save 27.73% on the value of your imported plant and machinery by registering under this MOOWR Scheme. This scheme is open for all industries i.e. cement, fertilizer, machine tools, auto parts, dal mill, oil mill, rice mill, textiles, dairy, spices, sugar factory, metals, paper, leather, packaging products, etc.
Advantages of MOOWR Scheme
Basic customs duty, Social welfare surcharge and Integrated Goods and Services Tax is not required to be paid if goods are imported under the MOOWR scheme.
There are absolutely no minimum investment criterias under this scheme. Even machines of Rs. 50 lacs can also be imported under this scheme.
Existing manufacturing unit can also import additional machines without payment of import duties. Fresh/ new investment in land, building, etc. is not required.
There is no export obligation imposed under the scheme and therefore, even manufacturers who are selling their 100% production in the domestic market are also eligible for this scheme.
Unlike EPCG scheme, submission of bank guarantee is not mandated under the scheme and even a solvency certificate from the bank will be sufficient.
If the machines are removed from the factory once their useful life is over, then only the duty saved amount is required to be paid and no interest is charged on the duty saved amount.
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