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Date: 08-Dec-2023 Category: Extra Ordinary State: Union Government Country: India

Amendment of Import Policy and Policy Conditions for Yellow Peas under ITCHS Code 07131010 of Chapter 07 of ITCHS 2022 Schedule I Import Policy

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 Yellow Peas under ITC(HS) Code 07131010, Chapter 07 of ITC(HS), 2022, Schedule –I (Import Policy).

Key Changes

  • Import of Yellow Peas is made 'Free' until March 31, 2024, subject to registration under the Import Monitoring System.
  • The Minimum Import Price (MIP) condition of Rs. 200/- per kilogram and port restrictions are removed until March 31, 2024.
  • Import consignments where Customs out-of-charge is issued after March 31, 2024, will not be considered 'Free'.
  • From April 1, 2024, the 'Restricted' import policy and associated conditions, as they existed before this notification, will be reinstated.
  • All imports of Yellow Peas until March 31, 2024, are subject to compulsory registration under the Import Monitoring System.
  • Procedures for prior registration of Yellow Peas consignments under the Import Monitoring System will be notified separately.

Impact Analysis

Importers

  • Risk: Importers should be aware that the 'Restricted' import policy will be reinstated from April 1, 2024.

Consumers

  • Consideration: The impact on consumers will depend on how much importers pass on the cost savings.

Domestic Producers

  • Consideration: The extent of the impact will depend on the volume of imports and the price competitiveness of domestic produce.

Government

  • Action: The government will separately notify the procedures for prior registration of Yellow Peas consignments under the Import Monitoring System.

Key Entities Referenced

Central Government: The issuer of the notification, exercising powers under the Foreign Trade (Development & Regulation) Act, 1992. Foreign Trade (Development & Regulation) Act, 1992: The enabling legislation that grants the Central Government the power to amend import policies. Foreign Trade Policy (FTP) 2023: The overarching policy framework within which the import policy amendments are made. Specifically, paragraphs 1.02 and 2.01 are referenced. ITC(HS) Code 07131010: The specific Harmonized System code for Yellow Peas, which is the subject of the import policy amendment. Import Monitoring System: The system under which registration is compulsory for Yellow Peas imports during the specified period. Minister of Commerce & Industry: The approving authority for the notification. Director General of Foreign Trade (DGFT): The issuing authority of 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.-08122023-250508 CG-DxLx-xEG-I0D8H1x2x2x0 23-250508 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 4997] नई दिल्ली, िुक्रवार, दिसम्ब र 8, 2023/अग्रहायण 17, 1945 No. 4997] NEW DELHI, FRIDAY, DECEMBER 8, 2023/AGRAHAYANA 17, 1945 ubZ fnYyh] 8 fnlEcj] 2023 I .—le;≤ ij fons'k O;kikj uhfr 2023 ds iSjk 1-02 vkSj 2-01 ds lkFk ifBr fon's k O;kikj ¼fodkl ,oa fofu;eu½ vf/kfu;e] 1992 dh /kkjk 3 vkSj /kkjk 5 }kjk iznÙk 'kfDr;ks a dk iz;ksx djr s gq,] dsUnz ljdkj ,rn~}kjk vkbZVhlh ¼,p,l½] 2022 dh vulq wph&I ¼vk;kr uhfr½ ds v/;k; 07 ds rgr vkbZVhlh ¼,p,l½ dkMs 07131010 ds varxZr ihyh eVj ds fy, vk;kr uhfr vkSj uhfrxr “krZ eas fuEukuqlkj la'kks/ku djrh gS& 07131010—ihyh izfrcaf/kr eVj dk vk;kr okf"kZd eqDr d½ 31 ekpZ 2024 rd dh vof/k eVj ¼jktdks’kh; o"kZ½ dksVk U;wure ds fy, ,evkbZih 'krZ ds fcuk vk;kr eYw ; ¼,evkbZih½ 200@& vkSj iÙku çfrca/k ds fcuk vk;kr vkSj blls vf/kd lhvkbZ,Q çfr ^eqä^ gSA vk;kr [ksika s dks tgka fdyksxzke #i;s ds v/khu gksxk 31 ekpZ] 2024 ds ckn lhek vkSj vk;kr dsoy dkys dkrk 'kqYd foHkkx dk ^vkmV&vkWQ& 7592 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] leqæh iÙku ds ek/;e ls vuqer pktZ* tkjh fd;k tkrk gS mls gSA ;g çfrca/k fdlh Hkh f}i{kh; ^eqä^ ugha ekuk tk,xkA ;k {ks=h; le>kSr s ;k le>kSrk [k½ 1 vçSy 2024 ls] bl Kkiu ds rgr ljdkj dh vf/klwpuk ls igys ekStwn vk;kr çfrc)rkvks a ij ykxw ugh a ^çfrcaf/kr^ vk;kr uhfr vkSj gksxkA lacaf/kr uhfrxr 'krsZa ykxw gksxa hA x½ bl vof/k ds nkSjku 31 ekpZ 2024 rd ihyh eVj ds lHkh izdkj ds vk;kr dh vuqefr gksxh] tks vk;kr fuxjkuh ç.kkyh ds rgr vfuok;Z iathdj.k ds v/khu gksxkA 2- vk;kr fuxjkuh ç.kkyh ds rgr ihyh eVj dh [ksi ds iwoZ iathdj.k ds laca/k eas çfØ;k,a vyx ls vf/klwfpr dh tk,axhA vkbZVhlh ¼,p,l½ dksM 07131010 ds rgr ihyh eVj dk vk;kr 31 ekpZ 2024 rd dh vof/k ds fy, rRdky çHkko ls] vk;kr fuxjkuh ç.kkyh ds rgr iathdj.k ds v/khu ^^eqDr^^ gSA ,evkbZih dh 'krZ vkSj iÙku çfrca/k 31 ekpZ 2024 rd dh vof/k ds fy, ,sl s ihyh eVj ds vk;kr ij ykxw ugha gksxa sA bls okf.kT; ,oa m|ksx e=a h ds vuqeksnu ls tkjh fd;k tkrk gSA [Qk- la- ,e&5012@300@2002@ihlh&2[d]@Hkkx&VI@bZ&9019] larks"k dqekj lkjaxh] Ekgkfuns'kd] fons'k O;kikj ,oa inus vij lfpo MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) NOTIFICATION New Delhi, the 8th December, 2023 No. 50/2023 Subject : Amendment of Import Policy and Policy Conditions for Yellow Peas under ITC(HS) Code 07131010 of Chapter 07 of ITC(HS), 2022, Schedule –I (Import Policy). S.O. 5226(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 (FTP) 2023, as amended from time to time, the Central Government hereby amends Import Policy and Policy conditions for Yellow Peas under ITC(HS) Code 07131010 of Chapter 07 of ITC(HS), 2022, Schedule –I (Import Policy) as under– ITC(HS) Existing Existing Policy Condition Revised Revised Policy Condition Code & Import Import Description Policy Policy 07131010-- Restricted Import of Peas shall be subject to an annual Free a) Import is ‗Free‘ without the Yellow Peas (fiscal year) quota Minimum Import Price MIP condition and without Port (MIP) of Rs. 200/- and above CIF per Restriction,for the period up to kilogram and import is allowed through 31st March 2024.Import Kolkata Sea port only. This Restriction shall consignments where Customs not apply to Governments import out-of-charge is issued after 31st commitments under any Bilateral or March 2024 shall not be Regional Agreement or Memorandum of considered as ‗Free‘. Understanding.[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 b) With effect from 1st April 2024, the ‗Restricted‘ Import Policy and associated Policy conditions as existing prior to this Notification shall come into force. c) All import of Yellow Peas during this period up to 31st March 2024 shall be allowed, subject to compulsory registration under the Import Monitoring System. 2. Procedures in regard to prior registration of Yellow Peas consignments under the Import Monitoring System shall be notified separately. Effect of the Notification: Import of Yellow Peas under ITC(HS) Code 07131010 is ―Free‖ subject to registration under the Import Monitoring system, with immediate effect for the period up to 31st March 2024. MIP condition and Port Restriction shall also not be applicable to such Yellow Peas imports for the period up to 31st March 2024. This is issued with the approval of the Minister of Commerce & Industry. [F. No. M-5012/300/2002/PC-2[A]/Part-VI/E-9019] 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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