The DGFT vide Policy Circular No. 41/2015-2022 dated June 05, 2022 regarding implementation of Paper Import Monitoring System (“PIMS”) issued clarification w.r.t. applicability of PIMS at the time of import at Special Economic Zone (“SEZ”)/ Free Trade and Warehousing Zones (“FTWZ”)/ Export Oriented Units (“EOU”) and further import into Domestic Tariff Area (“DTA”)
The DGFT, vide Notification No. 11/2015-20 dated May 25, 05, 2022, has introduced Paper Import Monitoring System (PIMS), by amending import policy of 201 tariff lines under Chapter 48 of ITS (HS), 2022, Schedule -I (Import Policy) from ‘Free’ ‘Free’ subject to compulsory registration under PIMS.
The Directorate has received a query whether PIMS Registration is required both at the point for import into Special Economic Zone (SEZ) Free Trade and Warehousing Zones (“FTWZ”) and at the time of Customs Clearance from SEZ to Domestic Tariff Area (DTA) and also whether the registration is required for EOUS as well at the time of import by an EOU.
The matter has been examined in consultation with the Department for Promotion of Industry and Internal Trade (DPIIT) and based upon their inputs, the following is clarified:
(i) PIMS Registration shall be required at the point of import by a Unit in SEZ/FTWZ or at the time of import by an EOU of the items covered under PIMS
(ii) PIMS Registration shall not be required by the DTA Unit at the time of Customs Clearance from the SEZ/FTWZ/EOU to DTA if no processing has taken place of the item of paper that has already been registered under PIMS at the time of entry into a SEZ/FTWZ/EOU. However, if processing has taken place in the SEZ/FTWZ/EOU with change in HS Code at 8-Digit level, then the importer in DTA will require to register under PIMS, if the processed item falls under any of the tariff lines covered under PIMS.
The Policy Circular can be accessed at: https://content.dgft.gov.in/Website/dgftprod/fa332b4f-6afa-433b-989f-4225254c034f/Policy%20Circular%20No%2041%20dt%2005-07-22.pdf
We have recently released the 7th Edition (May, 2022) of our book on Goods and Services Tax, titled, “GST LAW AND COMMENTARY – WITH ANALYSIS AND PROCEDURES”, updated with the Finance Act, 2022 in a set of 4 Volumes. We thank you all for the support and your enduring response.
Have a look at the complete tour of the Book at: https://cutt.ly/nF6O0oN
Order your copy now and be a part of the GST learning excursion in the most comprehensive and lucid form !!
For more details and purchase online at: https://cutt.ly/RFMox8D