Home India Ministry of Commerce and Industry Amendment in Import Policy and Policy condition of Screws co...
Date: 03-Jan-2024 Category: Extra Ordinary State: Union Government Country: India

Amendment in Import Policy and Policy condition of Screws covered under HS code 7318 of Chapter 73 of Schedule I Import Policy of ITC HS 2022

Issued by Ministry of Commerce and Industry · Directorate General of Foreign Trade

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Executive Summary & Key Takeaways

What it means

  • The gazette notification amends the import policy and policy conditions for screws covered under specific HS codes within Chapter 73 of Schedule-I (Import Policy) of ITC (HS) 2022.
  • The import policy for screws under specified HS codes is revised from 'Free' to 'Prohibited', but an exception is provided.

Key Changes

  • The import policy for screws under ITC (HS) codes 73181110, 73181190, 73181200, 73181300, 73181400, 73181500, and 73181900 has been changed from 'Free' to 'Prohibited'.
  • Imports of these screws are permitted without restriction if the CIF (Cost, Insurance, and Freight) value is INR 129 or more per kilogram, and are subject to policy conditions 2 and 3 of Chapter 73.

Impact Analysis

Importers

  • Action Item: Review current import strategies and pricing to align with the new CIF value threshold. Negotiate with suppliers to ensure CIF value meets the requirement for unrestricted import.

Domestic Manufacturers

  • Action Item: Assess production capacity and market demand to capitalize on potential growth opportunities. Focus on producing screws that meet or exceed the INR 129/kg CIF value to compete with imports.

Consumers

  • Action Item: Monitor price trends and availability of screws in the market. Consider sourcing screws from domestic manufacturers or exploring alternative fastening solutions.

Government

  • Action Item: Monitor the impact of the policy on domestic manufacturing, import volumes, and government revenue. Adjust the policy as needed to achieve desired outcomes.

Key Entities Referenced

Central Government: The entity responsible for amending the import policy and policy conditions for screws. Directorate General of Foreign Trade (DGFT): The agency responsible for issuing the notification and implementing the foreign trade policy. Foreign Trade (Development & Regulation) Act, 1992: The legislation that empowers the Central Government to regulate foreign trade. Foreign Trade Policy 2023: The overarching policy framework that guides India's foreign trade. ITC (HS) 2022: The Indian Trade Classification (Harmonized System) of Coding, which provides a standardized system for classifying goods for trade purposes. Minister of Commerce & Industry: The approving authority for the notification.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-03012024-251125 xxxGIDHxxx CG-DLxx-xEG-I0D3E0x1x2x0 24-251125 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 50] नई दिल्ली, बुधवार, िनवरी 3, 2024/पौष 13, 1945 No. 50] NEW DELHI, WEDNESDAY, JANUARY 3, 2024/PAUSHA 13, 1945 ubZ fnYYkh] 3 tuojh] 2024 I .—le;≤ ij ;Fkk la”kksf/kr fons”k O;kikj uhfr 2023 ds iSjk 1-02 vkSj 2-01 ds lkFk ifBr fons”k O;kikj ¼fodkl ,oa fofu;eu½ vf/kfu;e 1992 dh /kkjk 3 vkSj /kkjk 5 ds rgr iznÙk ’kfDr;ks a dk iz;ksx djr s gq, dsUnz ljdkj ,rn}kjk vkbZVhlh ¼,p,l½ 2022] vulq wph&I ¼vk;kr uhfr½ ds v/;k; 73 ds varxZr ”kkfey ,p,l dksMl gsrq vk;kr uhfr vkSj uhfrxr ”krZ dks fuEukuqlkj la’kksf/kr djrh gS%& 73181110 - FkszMsM oLrq,a - eqDr bl v/;k; dh fuf"k) RkFkkfi] vk;kr eqDr gS ;fn uhfrxr ’krZ 2 vkSj lhvkbZ,Q eYw ; 129 #- izfr -- dksp LØwt] 3 ds v/khu fdyksxzke vFkok vf/kd gks vkSj ;g -- Ek’khu LØwt bl v/;k; dh uhfrxr ”kr Z la- 2 vkSj 3 ds v/khu gSA 94 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] 73181190 - FkszMsM oLrq,a - eqDr bl v/;k; dh fuf"k) RkFkkfi] vk;kr eqDr gS ;fn -- dksp LØwt] uhfrxr ’krZ 2 vkSj lhvkbZ,Q eYw ; 129 #- izfr 3 ds v/khu fdyksxzke vFkok vf/kd gks vkSj ;g -- vU; bl v/;k; dh uhfrxr ”krZ l-a 2 vkSj 3 ds v/khu gSA 73181200 - FkszMsM oLrq,a - eqDr bl v/;k; dh fuf"k) RkFkkfi] vk;kr eqDr gS ;fn uhfrxr ’krZ 2 vkSj lhvkbZ,Q eYw ; 129 #- izfr -- vU; ydM+h ds 3 ds v/khu fdyksxzke vFkok vf/kd gks vkSj ;g LØwt] bl v/;k; dh uhfrxr ”krZ l-a 2 vkSj 3 ds v/khu gSA 73181300 - FkszMsM oLrq,a - eqDr bl v/;k; dh fuf"k) RkFkkfi] vk;kr eqDr gS ;fn uhfrxr ’krZ 2 vkSj lhvkbZ,Q eYw ; 129 #- izfr -- LØw gqDl vkSj LØw 3 ds v/khu fdyksxzke vFkok vf/kd gks vkSj ;g fjxal bl v/;k; dh uhfrxr ”krZ l-a 2 vkSj 3 ds v/khu gSA 73181400 - FkszMsM oLrq,a - eqDr bl v/;k; dh fuf"k) RkFkkfi] vk;kr eqDr gS ;fn uhfrxr ’krZ 2 vkSj lhvkbZ,Q eYw ; 129 #- izfr -- lsYQ Vfsiax 3 ds v/khu fdyksxzke vFkok vf/kd gks vkSj ;g LØwt bl v/;k; dh uhfrxr ”krZZ la- 2 vkSj 3 ds v/khu gSA 73181500 - FkszMsM oLrq,a %& eqDr bl v/;k; dh fuf"k) RkFkkfi] vk;kr eqDr gS ;fn vU; LØwt vkSj uhfrxr ’krZ 2 vkSj lhvkbZ,Q eYw ; 129 #- izfr cksYVl pkgs og 3 ds v/khu fdyksxzke vFkok vf/kd gks vkSj ;g muds uV~l vkSj bl v/;k; dh uhfrxr ”krZ l-a 2 ok’klZ ds lkFk gks a ;k vkSj 3 ds v/khu gSA ugh a 73181900 FkszMsM oLrq,a & vU; eqDr bl v/;k; dh fuf"k) RkFkkfi] vk;kr eqDr gS ;fn uhfrxr ’krZ 2 vkSj lhvkbZ,Q eYw ; 129 #- izfr 3 ds v/khu fdyksxzke vFkok vf/kd gks vkSj ;g bl v/;k; dh uhfrxr ”krZ l-a 2 vkSj 3 ds v/khu gSA vkbZVhlh ¼,p,l½ dkMs l 73181110] 73181190] 73181200] 73181300] 73181400] 73181500 vkSj 73181900 ds varxZr LØwt dh vk;kr uhfr vkSj uhfrxr ‘’krZ dk s ^eqDr^ ls la’kksf/kr dj ^fuf"k)^ fd;k x;k gSA rFkkfi] vk;kr eqDr gksxk ;fn lhvkbZ,Q eYw ; 129 #-@& izfr fd- xzk- vFkok vf/kd gksA bls okf.kT; ,oa m|ksx e=a h ds vuqeksnu ls tkjh fd;k tkrk gSA [Qk- la- 01@89@180@13@,,e&23@ihlh-2¼d½@bZ&37595] larks’k dqekj lkjaxh] egkfun's kd] fon's k O;kikj ,oa inus vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) NOTIFICATION New Delhi, the 3rd January, 2024 No. 55 /2023 Subject: Amendment in Import Policy and Policy condition of Screws covered under HS code 7318 of Chapter 73 of Schedule –I (Import Policy) of ITC (HS) 2022. S.O. 55(E).— In exercise of powers conferred by Section 3 and Section 5 of Foreign Trade (Development & Regulation) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy 2023, as amended from time to time, the Central Government hereby amends the import policy and policy condition for specific HS codes covered under Chapter 73 of the ITC (HS), 2022, Schedule-I (Import Policy) as under:[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 HS code Item Description Existing Import Existing Revised Import New Policy Policy Policy Policy Condition Condition 73181110 -Threaded articles: -Free Subject to Prohibited However, import is - Coach Screws --- Policy “Free” if CIF value Machine screws condition no. 2 is Rs. 129/- or and 3 of this above per Kg and Chapter subject to Policy condition no. 2 and 3 of this Chapter 73181190 -Threaded articles: -Free Subject to Prohibited However, import is - Coach Screws --- Policy “Free” if CIF value Other condition no. 2 is Rs. 129/- or and 3 of this above per Kg and Chapter subject to Policy condition no. 2 and 3 of this Chapter 73181200 - Threaded articles : Free Subject to Prohibited However, import is -- Other wood Policy “Free” if CIF value screws condition no. 2 is Rs. 129/- or and 3 of this above per Kg and Chapter subject to Policy condition no. 2 and 3 of this Chapter 73181300 - Threaded articles : Free Subject to Prohibited However, import is -- Screw hooks and Policy “Free” if CIF value screw rings condition no. 2 is Rs. 129/- or and 3 of this above per Kg and Chapter subject to Policy condition no. 2 and 3 of this Chapter 73181400 - Threaded articles : Free Subject to Prohibited However, import is -- Self- tapping Policy “Free” if CIF value screws condition no. 2 is Rs. 129/- or and 3 of this above per Kg and Chapter subject to Policy condition no. 2 and 3 of this Chapter 73181500 - Threaded articles : Free Subject to Prohibited However, import is -- Other screws and Policy “Free” if CIF value bolts, whether or not condition no. 2 is Rs. 129/- or with their nuts or and 3 of this above per Kg and washers Chapter subject to Policy condition no. 2 and 3 of this Chapter 73181900 - Threaded articles : Free Subject to Prohibited However, import is -- Other Policy “Free” if CIF value condition no. 2 is Rs. 129/- or and 3 of this above per Kg and Chapter subject to Policy condition no. 2 and 3 of this Chapter Effect of the notification: The Import Policy of Screws under ITC (HS) Codes 73181110, 73181190, 73181200, 73181300, 73181400, 73181500 and 73181900 is revised from “Free” to “Prohibited”. However, import shall be “Free” if CIF value is Rs. 129/- or above per Kg. This is issued with the approval of Minister of Commerce & Industry. [F. No. 01/89/180/13/AM-23/PC-2[A] /E-37595] SANTOSH KUMAR SARANGI, Director General of Foreign Trade & Ex-officio Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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