New Delhi, Nov 14 (KNN) The Directorate General of Foreign Trade (DGFT) has notified the one time relaxation given to steel importers for obtaining SIMS (Steel Import Monitoring System) registration.

Import Policy of specific iron & steel items appearing in Chapter 72, 73 and 86 of ITC (HS), 2017, Schedule – I was changed from ‘free’ to ‘free subject to compulsory registration’ under SIMS.

SIMS requires importers to submit advance information in an online system for import of items in the Annex. On submission of online data/information, the system generates an automatic unique Registration Number. No manual documents are required to be submitted to any public authority for this purpose.

An 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.

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.

Earlier. SIMS was to be effective from November 01, 2019 after which the Bill of Entry on or after this date for items as listed in the Annex to this Notification was to be governed by SIMS.

No the last date has been extended till November 20, 2019.

In a notification, DGFT said, “The SIMS will be effective from 21.11.2019, i.e. Bill of Entry on or after 21.11.2019 for items as listed in the Annex to this Notification was to be governed by SIMS.” (KNN Bureau)

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