Amendment in import policy of Iron & Steel and incorporation of policy condition in Chapter 72, 73 and 86 of ITC (HS), 2017, Schedule-I (Import Policy) - Customs - TRADE NOTICE NO. 16/2019

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS OFFICE OF THE COMMISSIONER OF CUSTOMS CUSTOM HOUSE, WILLINGDON ISLAND, COCHIN-682009 F. No. C1/06/2016-TU. Cus. Dated: 16.09.2019 TRADE NOTICE NO. 16/2019 Subject: Amendment in import policy of Iron Steel and incorporation of policy condition in Chapter 72, 73 and 86 of ITC (HS), 2017, Schedule-I (Import Policy). Attention of Importers/ Exporters, Customs Brokers, Trade, Customs Staff and Stakeholders is invited to the DGFT Notification No.17 /2015 20 dated 05.09.2019 regarding amendment of import policy of Iron Steel. 2. In exercise of powers conferred by Section 3 9 of ET (D R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-20, as amended from time to time, the Central Government has amended the import policy from 'free' to 'free subject to compulsory registration under Steel Import Monitoring System (SIMS)' for the following items of Chapter 72, 73 and 86 of ITC (HS), 2017, Schedule-I (Import Policy) and insert a new policy condition to these three Chapters: (a) Items: As per the Annexure. (b) Policy Condition to Chapter 72, 73 and 86 of ITC (HS): Import policy for the items as listed in the Annex has been revised from 'free' to 'free subjected to compulsory registration under Steel Import Monitoring System' (c) The Steel Import Monitoring System (SIMS) shall require importers to submit advance information in an online system for import of items in the Annex and obtain an automatic Registration Number by paying registration fee of ₹ 1 per thousand subject to minimum of ₹ 500/- and maximum of ₹ 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. (d) Importer shall have to enter the Registration Number and expiry date of Registration in the Bill of Entry to enable Customs for clearance of consignment. (e) The SIMS will be effective from 01.11.2019, i.e., Bill of Entry on or after 01.11.2019 for items as listed in the Annex to this Notification shall be governed by SIMS. The facility of online Registration will be available with effect from 16.09.2019. Effect of this Notification: Specific items in Chapter 72, 73 and 86 shall be subjected to Steer Monitoring System (SIMS). 4. This is issued for the information of the general public and all the stakeholders. 5. Hindi version follows. (MOHD. YOUSAF) Commissioner of Customs