MP HC: Policy of First Come, First Serve is Inherently Flawed  ||  Bombay HC: Arbitration Clause Giving Unilateral Power Does Not Render the Agreement Invalid  ||  Madras HC: Taxpayer Not Responding to Notices Should be Sent Reminder through RPAD  ||  Madras HC: Taxpayer Not Responding to Notices Should be Sent Reminder through RPAD  ||  Bombay HC: There is Prohibition Only on "Talaq-e-biddat" and Not on "Talaq-e-Ahsan"  ||  Bombay HC: Government Allottee Lacking Legal Occupation Can’t be Considered ‘Deemed Tenant’  ||  AP HC: If a “Necessary Party” is Not Impleaded, the Suit Itself is Liable to be Dismissed  ||  Delhi HC: No Affect on Charitable Trust’s Status for Making Payments for Services by Related Party  ||  Bombay HC Directs State Govt. to Upload State's Prison & Police Manual on Internet  ||  Delhi HC: If Use of Smoke Cannister a Terrorist Act then Every Holi & IPL Match Will Attract UAPA    

Amendment in Import policy of Iron and Steel and incorporation of policy condition in Chapter 72, 73 and 86 of ITC(HS), 2017 Schedule-1- (Ministry of Finance ) (21 Nov 2019)

MANU/CUCR/0038/2019

Customs

1. Kind reference is invited to DGFT Notification No.'s 17/2015-2020 & 32/2015-20 dated 05.09.2019 & 13.11.2019 respectively. Further vide Circular No. 29/2015-20 dated 04.10.2019, DGFT has issued FAQs clarifying the scope of the notifications on the introduction of the Steel Import and Monitoring System (SIMS). 2. The DGFT Notification No. 17/2015-2020 dated 05.09.2019 amends the import policy for certain goods falling under Chapter 72, 73 and 86 of ITC (HS), 2017 as annexed to the said notification from 'free' to 'free subject to compulsory registration under Steel Import Monitoring System (SIMS)'. The Steel Import Monitoring System (SIMS) shall require importers to submit an advance information on an online system for import of items in the Annex and obtain an advance automatic registration number by paying the prescribed registration fee.

3. The necessary changes related to SIMS have been operationalized in ICES. Bills of Entry for import of goods falling under the above said notification of DGFT shall mandatorily be filed in accordance with ICES Advisory 25/2019 issued by Directorate of Systems from 21.11.19. The above changes have been separately communicated to the various Customs Brokers Associations and RES software providers by Directorate of Systems. However, the same may further be given publicity by way of Trade notices.

4. It is further clarified that while the declaration of SIMS registration number and other required details is mandatory in the Bills of Entry, the Customs officer need not insist the importer to submit any further documentary proof of the registration at the time of verification or examination.

5. Further, as clarified by Policy Circular No. 29/2015-20 dated 04.10.2019 issued by DGFT, the following points are to be noted:

a. SIMS registration will not be applicable on air-freighted goods as this mode is used for emergency/small volume-high value goods required at short notice.

b. Once SIMS registration has been obtained, any number of consignments can be imported by a single SIMS registration within the validity of the registration.

c. SIMS is applicable to imports through Advance Authorisation, DFIA and imports to SEZs.

d. SIMS shall not be applicable to returnable steel racks imported on temporary import and on FOC basis as they are not meant for domestic consumption.

6. Difficulties, if any, may be brought to the notice of the Board.

Tags : AMENDMENT   IMPORT POLICY   IRON AND STEEL  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved