Underlying regulation for Importing the Industrial Goods

 Terms & conditions for importing the industrial goods

(1) Foreign exchange earning hotels may import, by purchasing cash foreign exchange, all items under H.S Heading No. 22.03, 22.06, 22.08 and all H.S. Code classifiable under it and all items including sausages of meat of swine under H.S. Heading No. 16.01 and H.S. Code No. 1601.00. 

UNION-TERMS & CONDITIONS

(2) In addition to importing from abroad, the foreign exchange earning hotels may also purchase items mentioned in sub-para(1) from the duty free shops of Bangladesh Parjatan Corporation subject to payment of customs duties and other dues at usual rate.

(3) For such import mentioned in sub-para (1), (including items purchased locally) they shall observe the following conditions and procedure, as: ----

(a) Import of the restricted items shall be limited to twenty percent of the foreign exchange earned by the hotel during the preceding financial year;

(b) Import of alcoholic beverages and spares shall be limited to a maximum of seven and a half percent of the total foreign exchange earning and the remaining twelve and a half percent may be utilized for import of other restricted item(s);

(c) Total import of restricted item shall not exceed twenty percent of the total earnings of foreign exchange referred to above clause (a);

(d) Foreign exchange earnings of a hotel shall be recorded by the bank to which the foreign exchange is sold and utilization of foreign exchange will be recorded by the nominated bank while opening L/C for these restricted items;

(e) Before submitting LCA From and opening of L/C for any restricted item the foreign exchange earning hotel shall obtain necessary endorsement in the IRC from the concerned Import Control Authority.

(4) Beer & wine of all category (H.S. Heading No. 22.03 to 22.06 and all H.S. Code classifiable under this heading) shall be importable only by foreign exchange earning hotels as per conditions of sub-para (1). In special cases, such items may be imported with approval of Ministry of Commerce & prior permission from Chief Controller subject to specified conditions; however, in all cases of import of beer & alcoholic drinks, concerned importer shall firstly obtain licence/permission from the Director General, Narcotics Control Department. 

(5) M.S. Sheet and Plate (hot rolled), G.P. Sheet, B.P. Sheet, Stainless Steel, CRCA Sheet, Tin Plate, M.S. Sheet and Silicon Sheet----

(a) Recognized industrial units having entitlement for M.S. Sheet, Stainless Steel Sheet, C. R. C. A. Sheet, Silicon Sheet, B.P. Sheet or Tin Plate (misprint), may import these items of secondary quality also and these items of prime quality as well as secondary quality shall also be importable on commercial basis;

(b) G.P. Sheet or secondary quality G.P. Sheet shall be freely importable; both by commercial importers and industrial consumers, without any value-limit and irrespective of its size, gauge or quantum of zinc coating.