Removal of 15 days advance notice Clause in SIMS Policy
Notification No. 19/2015-2020 Dated: 7th July, 2022
Subject: Amendment in registration time period of Steel Import Monitoring System (SIMS).
S.Q. (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.04(c) of Chapter- 72, Policy Condition No. 03 (c) of Chapter-73 and Policy Condition No.03 (c) of Chapter-86 of Schedule-I (Import Policy) of ITC (HS), 2022:
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Existing Policy Condition |
Revised Policy Condition |
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The Steel Importing Monitoring System (SIMS) shall require importers to submit advance information in an online system for import of items and obtain an automatic Registration Number by paying registration fee Of Rs. 1 per thousand subject to minimum of thousand 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. |
The Steel Importing Monitoring System (SIMS) shall require importers to submit advance information in an online system for import of items and obtain an automatic Registration Number by paying registration fee of Rs. 1 per 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 before the expected date of arrival of import consignment. The automatic Registration Number thus granted shall remain valid for a period of 75 days. |
Effect of the Notification: The requirement of advance registration of minimum 15 days from the expected date of arrival of import consignment under SIMS has been abolished.
This issues with the approval of Minister of Commerce & Industry.
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