Home India Ministry of Commerce and Industry In exercise of powers conferred by Section 3 of FT D and R A...
Date: 2020-03-31 Category: Extra Ordinary State: Union Government Country: India

In exercise of powers conferred by Section 3 of FT D and R Act, 1992, read with paragraph

Issued by Ministry of Commerce and Industry · Department of Commerce

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Executive Summary & Key Takeaways

Executive Summary: This notification amends the import policy for Iron and Steel, specifically regarding the Steel Import Monitoring System (SIMS). It extends the validity of automatic registration numbers generated under SIMS until March 31, 2020, from 75 days to 135 days. This extension provides a one-time relaxation due to shipment delays caused by COVID-19. Key Points / Main Content: * **Amendment Purpose:** To revise the policy conditions in Chapters 72, 73, and 86 of the ITC HS, 2017, Schedule I Import Policy related to Iron and Steel imports. * **Steel Import Monitoring System (SIMS):** * Importers must submit advance information online for importing items in the Annex. * An automatic Registration Number is required, obtained by paying a registration fee of Rs. 1 per thousand on CIF value (minimum Rs. 500, maximum Rs. 1 lakh). * Registration application can be made between the 60th and 15th day before the expected arrival date. * Normally, the automatic Registration Number is valid for 75 days. * **COVID-19 Related Extension:** * Automatic registration numbers generated until March 31, 2020, are granted an extension of 60 days beyond the standard 75-day validity. * Effectively, these registration numbers are valid for 135 days. * This extension is a temporary measure to account for shipment delays caused by the COVID-19 outbreak. Impact Analysis: **Importers:** * *Impact:* Importers who obtained automatic registration numbers under SIMS before March 31, 2020, benefit from an extended validity period. This allows more time for shipments delayed by the COVID-19 situation. * *Action Required:* Importers should note the extended validity period of their registration numbers and ensure their shipments arrive within the 135-day timeframe. **Directorate General of Foreign Trade (DGFT):** * *Impact:* DGFT is responsible for implementing and monitoring the amended policy. * *Action Required:* DGFT needs to ensure that the online system reflects the extended validity period for relevant registration numbers and communicate the changes to relevant stakeholders.

Key Entities Referenced

Iron Steel: Subject of the amendment in import policy. ITC HS, 2017: Indian Trade Clarification based on Harmonized System of Coding, 2017. Mentioned in the context of Schedule I Import Policy. Foreign Trade Policy, 2015-2020: The existing Foreign Trade Policy which is being amended. Foreign Trade Development and Regulation Act, 1992: The Act under which the powers are conferred to make amendments to the Foreign Trade Policy. Steel Import Monitoring System SIMS: System requiring importers to submit advance information for import of steel items. DGFT Notification No. 17: Notification by Directorate General of Foreign Trade regarding automatic registration number validity. COVID19: Mentioned in the context of delays in shipments. Amit Yadav: Director General of Foreign Trade, Ex officio Addl. Secy.
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S.O. 1231(E).—In exercise of powers conferred by Section 3 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 Para (c) of the Policy conditions incorporated vide Notification No.17/2015-2020 dated 5th September, 2019 published in the Gazette of India (Extra- ordinary) vide S.O. 3214(E) dated 5th September, 2019, as under: c. The Steel Import Monitoring System (SIMS) shall require importers to submit advance information in an online system for import of items in the Annex and obtain an automatic Registration Number by paying registration fee of Rs.1 per thousand subject to minimum of Rs.500/ and maximum of Rs. 1 lakh on CIF value. The importer can apply for registration not earlier than 60th day and not later than 15th day before the expected date of arrival of import consignment. The automatic Registration Number thus granted shall remain valid for a period of 75 days. Note: The automatic registration number generated till 31.03.2020 shall remain valid for a period of 60 days beyond the 75 day period notified vide DGFT Notification No. 17 dated 05.09.2019, in view of delays in shipments due to COVID-19 breakout. In effect, the automatic registration number generated till 31.03.2020 shall remain valid for a period of 135 days.[भाग II—ख(cid:2) ड 3(ii)] भारत का राजप(cid:9) : असाधारण 3 Effect of the Notification : One-time relaxation is provided through extension of validity to 135 days of the automatic registration number generated under SIMS till 31.03.2020. [F. No. 01/89/180/Moni-5852/AM-03/PC-2(A)/Part-III/e-2787] AMIT YADAV, Director General of Foreign Trade & Ex- officio Addl. Secy. Note : The principal notification No. 36/2015-2020, dated the 17th January, 2017 was published in the Gazette of India, Extraordinary vide number S.O. 172(E), dated the 17th January, 2017 and amended vide Notification No.17/2015-2020 dated 5th September, 2019 and published in the Gazette of India vide S.O. 3214(E) dated 5th September, 2019 and amended vide Notification No. 32/2015-2020 dated 13th November, 2019 and published in the Gazette of India vide S.O. 4096(E) dated 13th November, 2019. 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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