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16/09/2019 04:59pm

Commerce Minister launches Steel Import Monitoring System (SIMS)

image Commerce Minister launches Steel Import Monitoring System (SIMS)

New Delhi, Sep 16 (KNN) Union Minister of Commerce & Industry  Piyush Goyal and Minister of State (MoS) for Commerce & Industry, Hardeep Singh Puri on Monday launched Steel Import Monitoring System (SIMS).  

‘’To make data enable to domestic industries that what kind of steel is being imported and what is the grade and quantity of that steel, from which country they are being imported from and what is the market potential in India? The more data will compile the more India domestic industries can improve themselves,’’ the Minister said.

The SIMS will provide advance information about steel imports to Government and stake holders including, steel industry (producers), steel consumers (importers) to have effective policy interventions.

With the help of this system, the importers of specified steel products will register in advance on the web portal of SIMS providing necessary information. The registration will be online and automatic and no human intervention is required.  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.

‘’It’s not a licensing, no one is being stooped. Whoever, imports steel from foreign countries for any reason will just need to register themselves with SIMA, so that to some extent we can monitor them regarding the steels grade and prices,’’ Commerce Minister added.

The automatic Registration Number thus granted shall remain valid for a period of 75 days. The information about the steel imports provided by the importers on the SIMS will be monitored by the Steel Ministry.

Steel Import Monitoring System (SIMS) has been notified with effect from 1st November, 2019 vide Notification No.17 dated 5th September, 2019. The system shall require importers to submit advance information in an online system for import of 284 steel tariff lines at 8-digit HS code in order to obtain an automatic Registration Number by paying prescribed registration fee.

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. The SIMS will be effective from 01.11.2019, i.e., Bill of Entry on or after 01.11.2019.

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