DGFT vide their Notification no 33/2015-20 dated 28 September, 2020 inserted policy condition from ‘Free’ to ‘Free subject to compulsory registration’ under Steel Import Monitoring System (SIMS) for all items of Chapter 72, 73 and 86. (Earlier, this was for only 284 specified Hs codes of Chapter 72, 73 and 86)
Key Points Are As Under:-
- The importer shall require iron & steel items importers to submit advance information in an online system for import of items
- The Importer has to apply for online registration not earlier than the 60th day and not later than the 15th day before the expected date of arrival of import consignment.
- The registration Number granted shall remain valid for a period of 75 days.
- Registration fee of Rs 1 per thousand subjects to a minimum of Rs.500/- and a maximum of Rs 1 Lakh on the aggregate CIF value of imports.