Executive Summary:
This notification from the Directorate General of Foreign Trade announces amendments to the Import Policy within the ITC HS 2017, Schedule 1, to align with changes made by the Finance Act, 2020. These amendments, effective December 22, 2020, involve modifications and substitutions to Exim codes for specific items related to wall fans, television set components, and solar cells. The changes affect import policies and item descriptions.
Key Points / Main Content:
* **Amendments to Exim Codes:**
* Exim codes in the ITC HS 2017 have been modified or substituted as per the Finance Act, 2020.
* The following items are now listed as "Free" under the import policy:
* 8414 51 50: Wall fans
* 8529 90 30: Open cell for television sets
* 8541 40 11: Solar cells, not assembled
* 8541 40 12: Solar cells, assembled in modules or made up into panels
* **Substitution of Item Description:**
* The item description for code 8541 40 12 replaces the existing description for "Photocells: Solar cells whether or not assembled in modules or panels" in ITCHS 2017.
* **Policy Update:**
* Chapters 84 and 85 of ITC HS 2017 Schedule 1 Import Policy are amended to incorporate changes made in the Finance Act, 2020, dated March 27, 2020.
Impact Analysis:
* **Importers:**
* Impact: Importers dealing with wall fans, television set components (open cells), and solar cells (assembled or unassembled) will be affected by the changes in import policy.
* Action Required: Review import strategies and documentation to align with the new Exim codes and item descriptions.
* **Customs Authorities:**
* Impact: Customs authorities need to implement the updated Exim codes and item descriptions for relevant goods.
* Action Required: Update systems and procedures to reflect the changes in the ITC HS 2017 Schedule 1 Import Policy.
* **Directorate General of Foreign Trade (DGFT):**
* Impact: Responsible for implementing and overseeing the updated import policies.
* Action Required: Ensure effective communication and enforcement of the new regulations.
Key Entities Referenced
Foreign Trade Development and Regulation Act, 1992: An act that empowers the Central Government to make provisions for regulating foreign trade.
Foreign Trade Policy, 2015 2020: A policy document that outlines the framework for promoting and regulating foreign trade.
Finance Act, 2020: An act that amends existing tax laws and introduces new tax measures.
ITC HS 2017: Indian Trade Classification based on Harmonized System of Coding 2017.
Directorate General of Foreign Trade: The government agency responsible for implementing the Foreign Trade Policy.
Ministry of Commerce and Industry: The ministry responsible for the development and regulation of foreign trade.
Amit Yadav: Director General of Foreign Trade, Ex-Officio Additional Secretary.
New Delhi, Delhi: The location where the notification was issued.
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असाधारण
EXTRAORDINARY
भाग II—ख(cid:7003) ड 3—उप-ख(cid:7003)ड (ii)
PART II—Section 3—Sub-section (ii)
(cid:7079)ािधकार स े(cid:7079)कािशत
PUBLISHED BY AUTHORITY
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MINISTRY OF COMMERCE AND INDUSTRY
(Department of Commerce)
(DIRECTORATE GENERAL OF FOREIGN TRADE)
NOTIFICATION
New Delhi the 22nd December, 2020
No. 48/2015-2020
Subject: Syncing of HS codes in ITC (HS) 2017- Schedule-1 (Import Policy) with the Finance Act, 2020.
S.O. 4645(E).—In exercise of powers conferred by Section 5 of the Foreign Trade (Development and
Regulation) Act, 1992 (as amended from time to time) read with paragraph 2.01 of the Foreign Trade Policy, 2015-
2020, the Central Government hereby notifies the following Exim codes which have been inserted/substituted vide
the Finance Act, 2020 ( No. 12 of 2020) dated 27th March, 2020, in the ITC (HS), 2017 as below:
Exim Code Item Description Policy Policy Conditions
8414 51 50 Wall fans Free --
8529 90 30 Open cell for television set Free --
8541 40 11 Solar cells, not assembled* Free --
8541 40 12 Solar cells, assembled in modules or made up into panels Free --
* this item description substitutes the existing item description (i.e Photocells: ----Solar cells whether or not
assembled in modules or panels) in ITC(HS) 2017.
Effect of this Notification: Chapter 84 and 85 of ITC (HS) 2017- Schedule-1 Import Policy is amended to
incorporate changes as made in the Finance Act, 2020 dated 27th March, 2020.
This issues with the approval of Minister of Commerce & Industry.
[F. No. 01/89/180/11/AM-17/PC-2(A)/e-1307]
AMIT YADAV, 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.