Home India Ministry of Commerce and Industry Amendment in minimum registration time period of Non-Ferrous...
Date: 2022-08-10 Category: Not Applicable State: Union Government Country: India

Amendment in minimum registration time period of Non-Ferrous Metal Import Monitoring System (NFMIMS).

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

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

**Summary:** This notification, issued by the Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry, amends the minimum registration time period for the Non-Ferrous Metal Import Monitoring System (NFMIMS). Specifically, it removes the requirement for importers to apply for registration a minimum of 5 days before the expected arrival of their import consignment. Under the revised policy, importers are still required to submit advance information online and obtain an automatic Registration Number by paying a fee of Rs. 500 for imports of items listed in Annexure I (copper) and Annexure II (aluminium). Importers can apply for registration no earlier than the 60th day before the expected arrival date. The automatic registration number remains valid for 75 days. This change, effective August 10, 2022, eliminates the previous stipulation that registration must be completed at least 5 days prior to the consignment's arrival. The notification is issued 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. For further information, contact Santosh Kumar Sarangi, Director General of Foreign Trade & Ex officio Addl. Secretary to the Government of India. File No. 01/89/180/07/AM-20/PC-2[AE19469]. Notification No. 26/2015-2020, dated 10th August 2022. It will be published in the Gazette of India Extraordinary Part II, Section 3, Sub-Section II.

Key Entities Referenced

Ministry of Commerce and Industry: The Indian government ministry responsible for international trade and commerce. Directorate General of Foreign Trade: The agency of the Ministry of Commerce and Industry responsible for implementing foreign trade policy. New Delhi: The location where the notification was issued, likely the headquarters of the issuing agencies. New Delhi, Delhi. FTDR Act, 1992: Foreign Trade (Development and Regulation) Act, 1992; the legislation that confers powers for foreign trade regulation. Foreign Trade Policy, 2015-2020: The prevailing foreign trade policy framework at the time of the notification. ITC HS, 2022: Indian Trade Classification (Harmonized System) which is based on Harmonized System of Nomenclature; used for import policy. Non-Ferrous Metal Import Monitoring System (NFMIMS): A system for monitoring the import of non-ferrous metals into India. Santosh Kumar Sarangi: Director General of Foreign Trade and Ex officio Addl. Secretary to the Government of India.
Official Source Record View Original Source →
See Full Document Text
To be published in the Gazette of India Extraordinary Part-II, Section-3, Sub-Section (II) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No. 26 /2015-2020 New Delhi, Dated: 10" August, 2022 Subject: Amendment in minimum registration time period of Non-Ferrous’ Metal Import Monitoring System (NFMIMS). S.O. (E): 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.03 (c) of Chapter- 74, and Policy Condition No. 01 (c) of Chapter-76 of Schedule-I (Import Policy) of ITC (HS), 2022: Existing Policy Condition Revised Policy Condition The Non-ferrous metal Import Monitoring}‘The Non-ferrous metal Import Monitoring System (NFMIMS) shall require importers toSystem (NFMIMS) shall require importers to submit advance information in an online system|submit advance information in an online for import of items in the Annexure-I (for|system for import of items in the Annexure-] copper) and Annexure-II (for aluminium) and(for copper) and Annexure-II (for aluminium) obtain an automatic Registration Number by!land obtain an automatic Registration Number paying a registration fee of Rs. 500/-. Theby paying a registration fee of Rs. 500/-. The importer can apply for registration not carlier|importer shall apply for registration before} than 60th day and not later than Sth day beforethe arrival of import consignment, the expected date of arrival of importRegistration can be applied not earlier than consignment. The automatic number _ thus|60th day before the expected date of arrival, granted shall remain valid for a period of 75‘The automatic number thus granted shall days. Iremain valid for a period of 75 days. 2. Effect of the Notification: The requirement of advance registration of minimum 5 days from the expected date of arrival of import consignment under NFMIMS has been abolished/made zero. This issues with the approval of Minister of Commerce & Industry. (Santosh Kumar Sarangi) Director General of Foreign Trade & Ex- officio Addl. Secretary to the Government of India (File No.01/89/180/07/AM-20/PC-2(A)/E-19469)

Continue your research