- March 31, 2024
- Posted by: admin
- Category:
Topic Insight
An import policy has been adopted for specific iron and steel items appearing in Chapter 72, 73 and 86 of ITC (HS), 2017. The details may be seen under the Annex to DGFT Notification 17 dated 05.09.2019. Herein the policy has been changed from & quot;free" to & quot;free subject to compulsory registration". Registration applications in this regard may be submitted here.
Applicability
(i) All importers of specific iron and steel items appearing in Chapter 72, 73 and 86 of ITC (HS), 2017
(ii) Importer can apply for online 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
(iii) A license is required for each customs entry / each shipment. You may include multiple products on one license as well.
Effective Date of implementation
Bill of Entries on or after 16.10.2020 shall require compulsory registration under SIMS.
[Public Notice No. 19 dated 28.09.2020]
Unique Registration Number (URN)
- Steel Import Monitoring System (SIMS) shall require importers to submit advance information in an online system for import of items in the Annex to DGFT Notification 17 dated 05.09.2019. On submission of online data/information, the system will generate an automatic Unique Registration Number. No manual documents are to be submitted to any public authority for this purpose.
- Importer shall have to enter the Registration Number and expiry date of Registration in the Bill of Entry to enable Customs for clearance of consignment.
Application Fee
A registration fee of Rs. 1 per thousand subject to a minimum of Rs.500/− and a maximum of Rs. 1 Lakh on aggregate CIF value of imports will need to be paid through electronic mode in the online system for each registration number.
Other Information
- On registration, a Unique Registration Number (URN) starting with ‘STL’ will be sent to the IEC holders mobile/email id (as given in IEC database)
- Any change in applicant’s mobile/email id will need to be first amended/updated in DGFT IEC database through the online IEC modification system
- Importers who fail to register their information/data on notified steel items in advance or are found to furnish incorrect data in the Online SIMS module will attract punitive action including action under FTDR Act, 1992
FAQ
What does SIMS stand for? Why was it created?
How many Manufacturers and Sellers we can add under one application for SIMS?
What do you do with this information?
Who is required to fill out the license?
What products are covered?
Do Indian origin goods processed in a foreign country need a license when re-entering India?
How long is the license valid for?
How do I cancel my license?
. Will I receive refund for the registration payment if I cancel the license after submitting?
How can we help you?
Contact us at the VennGroup’s Hyderabad to you or submit a business inquiry online.
The team was prompt, professional, and extremely knowledgeable. They listened to my needs and provided me with a tailored solution that exceeded my expectations.