The DGFT vide Notification No. 19/2015-2020 dated July 07, 2022 has issued amendments in the registration time period of the Steel Import Monitoring System (“SIMS”) under the Foreign Trade Policy 2015-2020 (“FTP”), in order to the requirement of advance registration of minimum 15 days from the expected date of arrival of import consignment under SIMS has been abolished.
In exercise of powers conferred by Section 3 & 9 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends the Policy condition No.04(c) of Chapter- 72, Policy Condition No. 03 (c) of Chapter-73 and Policy Condition No.03 (c) of Chapter-86 of Schedule-I (Import Policy) of ITC (HS), 2022:
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Existing Policy Condition |
Revised Policy Condition |
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The Steel Importing Monitoring System (SIMS) shall require importers to submit advance information in an online system for import of items and obtain an automatic Registration Number by paying registration fee of Rs. 1 per thousand subject to minimum of Rs. 500/ and maximum of Rs. 1 lakh on CIF value. The importer can apply for registration not earlier than 60th day and not later than 15th day before the expected date of arrival of import consignment. The automatic Registration Number thus granted shall remain valid for a period of 75 days. |
The Steel Importing Monitoring System (SIMS) shall require importers to submit advance information in an online system for import of items and obtain an automatic Registration Number by paying registration fee of Rs. 1 per thousand subject to minimum of Rs. 500/ and maximum of Rs. 1 lakh on CIF value. The importer can apply for registration not earlier than 60th day before the expected date of arrival of import consignment. The automatic Registration Number thus granted shall remain valid for a period of 75 days. |
Effect of the Notification: The requirement of advance registration of minimum 15 days from the expected date of arrival of import consignment under SIMS has been abolished.
The Notification can be accessed at: https://content.dgft.gov.in/Website/dgftprod/cd112754-3da8-4385-8fbc-be8e594047a9/Notification%2019%20dt%2007-07-22%20Eng.pdf
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