Amendment in import policy of Paper

Amendment in import policy of Paper

Amendment in import policy of Paper and incorporation of policy condition in Chapter 48 of ITC (HS), 2022, Schedule — I (Import Policy)- Notification No. 11/2015-2020

S.O. (E): In exercise of powers conferred by Section 3 read with Section 5 and Section 9 of the Foreign Trade (Development and Regulation) Act, 1992 (as amended from time to time) read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, the Central Government hereby amends the import policy from ‘Free’ to ‘Free subject to compulsory registration under Paper Import Monitoring System (PIMS)’ under Chapter 48 of ITS (HS), 2022, Schedule —I (Import Policy) and insert a new policy condition under this chapter for 201 tariff lines:

a. The list of tariff lines is at Annexure -I.
b. Import policy for the items as listed in the Annexure has been revised from ‘Free’
to ‘Free subject to compulsory registration’ under Paper Import Monitoring System (PIMS)’.
c. Paper Import Monitoring System (PIMS)) shall require importers to submit advance information in an online system for import of items under the Annexure -A and obtain an automatic Registration Number by paying registration fee of Rs. 500. The importer can apply for registration not earlier than 75th day and not later than 5th 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. Multiple Bill of Entries shall be allowed in same registration number within the validity period of registration for the permitted quantity.
d. 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.
e. The PIMS will be effective from 01.10.2022 i.e. Bill of Entry on or after 01.10.2022 for items as listed in the Annexure -Ito this Notification shall be governed by PIMS. The facility of online registration will be available with effect from 15.07.2022 at https://imports.gov.in.

  1. Effect of the Notification:
    Import policy of Specific tariff lines under Chapter 48 of ITC(HS) 2022 as given at Annexure -I to this Notification is revised from ‘Free’ to ‘Free subject to compulsory registration under Paper Import Monitoring System (PIMS)’.

This issues with the approval of Minister of Commerce & Industry.

Annexure

Read More on DGFT

CA Cult

CA Cult