Kathmandu. Now it is possible to import goods up to 60,000 US dollars at a time. The foreign exchange management department of Nepal Rastra Bank has made this provision by revising the Integrated Circular-2079. Along with this, traders will now be able to import goods worth 60,000 US dollars. Earlier, the National Bank had arranged to import goods up to 50,000 dollars at a time.

The National Bank has said through a circular, 'Only goods worth USD 60,000 or equivalent in foreign currency can be imported at a time.' However, in the case of imports from India, the limit will be up to 30 million rupees, according to the National Bank. According to the Rastra Bank, after receiving the same export facility for the import of another shipment, the same facility can be obtained again only after 7 days have passed after receiving the same facility.

As proof of importation, submit the VVNI form, customs notification letter and receipt of customs revenue payment to the relevant bank and financial institution as proof of importation. In case of importers who take the previous facility from other banks and financial institutions, 7 days have passed in addition to the documents. The relevant importer should also submit the self-declaration related to it' - the circular states.

Likewise, the bond to be kept on imports has also been reduced. The central bank has reduced the limit of the bond to be kept in the imports made by industries and commercial organizations. Now the industry will have to deposit 1 percent and the commercial organization will have to deposit 3 percent. Previously, there was a provision of 2 percent for the import of industry and 10 percent for commercial organizations. However, the National Bank has said that the limit of import bond has been reduced due to the provision of collecting customs revenue through electronic means.