Home India Ministry of Commerce and Industry In exercise of powers conferred by Section 3 of FT D and R A...
Date: 2019-08-28 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, issued by the Directorate General of Foreign Trade, amends the import policy for polymethyl methacrylate under Exim code 3916 90 32 of ITC HS 2017 Schedule 1. The import policy is revised from 'Free' to 'Prohibited' effective September 1, 2019. This change is made under the authority of Section 3 of the Foreign Trade (Development and Regulation) Act, 1992. Key Points / Main Content: Amendment Details: * Exim Code: 3916 90 32 * Item: Polymethyl Methacrylate * Existing Policy: Free * Revised Policy: Prohibited Effective Date: * The revised import policy is effective from September 1, 2019. Authority: * The amendment is issued under Section 3 of the Foreign Trade (Development and Regulation) Act, 1992. Impact Analysis: Importers of Polymethyl Methacrylate: Impact: Importation of polymethyl methacrylate under Exim code 3916 90 32 is now prohibited, restricting their ability to import this item. Action Required: Importers must cease importing polymethyl methacrylate under the specified Exim code from September 1, 2019, and seek alternative sources or products. Ministry of Commerce and Industry: Impact: Responsible for overseeing and approving the revised trade policy. Action Required: Ensure the notification is effectively implemented and monitor its impact on trade. Directorate General of Foreign Trade: Impact: Responsible for implementing and enforcing the revised import policy. Action Required: Enforce the prohibition on importing polymethyl methacrylate under the specified Exim code and update relevant trade regulations and documentation.

Key Entities Referenced

Foreign Trade Policy, 2015-2020: A trade policy document referenced in the notification. Foreign Trade Development and Regulation Act, 1992: An act of the Indian Parliament that provides the legal framework for foreign trade. ITC HS 2017 Schedule 1 Import Policy: Indian Trade Clarification based on Harmonized System of Coding, 2017, Schedule 1 related to Import Policy Polymethyl Methacrylate: A type of polymer whose import policy is being amended. Directorate General of Foreign Trade: The government organization responsible for implementing foreign trade policy. Ministry of Commerce and Industry: The ministry under which the Department of Commerce and DGFT operate. New Delhi, Delhi: The city where the notification was issued. Alok Vardhan Chaturvedi: Director General of Foreign Trade and ex-officio Secretary who issued the notification
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