{"id":59456,"date":"2023-09-25T18:00:15","date_gmt":"2023-09-25T12:30:15","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=59456"},"modified":"2025-07-09T12:16:05","modified_gmt":"2025-07-09T06:46:05","slug":"highlights-of-the-2019-amendments-in-import-policy-for-iron-and-steel","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/highlights-of-the-2019-amendments-in-import-policy-for-iron-and-steel\/","title":{"rendered":"Highlights of the 2019 Amendments in Import Policy for Iron and Steel"},"content":{"rendered":"\n<p>DGFT, under the Foreign Trade Act, 1992, has issued a notification amending the Import Policy for around 284 steel and related items. These items relate to chapters 72, 73 and 86 of ITC (HS), 2017, in Schedule \u2013I. The and has inserted additional Policy conditions in the Import Policy for Iron and Steel and changed the status of these items from `free\u2019 to \u2018free, subject to compulsory registration on an import management system managed by DGFT. In this article, we will look at the items listed in the policy and also require furnishing advance information in an online system and obtaining an automatic registration number.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/highlights-of-the-2019-amendments-in-import-policy-for-iron-and-steel\/#Amendment_to_the_Import_Policy_for_Iron_and_Steel\" >Amendment to the Import Policy for Iron and Steel<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/highlights-of-the-2019-amendments-in-import-policy-for-iron-and-steel\/#List_of_Items_identified_under_the_Import_Policy_for_Iron_and_Steel\" >List of Items identified under the Import Policy for Iron and Steel<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/highlights-of-the-2019-amendments-in-import-policy-for-iron-and-steel\/#Steel_Import_Monitoring_System\" >Steel Import Monitoring System<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/highlights-of-the-2019-amendments-in-import-policy-for-iron-and-steel\/#Important_points_to_remember_under_Import_Policy_for_Iron_and_Steel\" >Important points to remember under Import Policy for Iron and Steel<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/highlights-of-the-2019-amendments-in-import-policy-for-iron-and-steel\/#Provisions_related_to_the_import_of_Metallic_Scrap\" >Provisions related to the import of Metallic Scrap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/highlights-of-the-2019-amendments-in-import-policy-for-iron-and-steel\/#Other_Services_hosted_by_DGFT_under_the_Import_Policy_for_Iron_and_Steel\" >Other Services hosted by DGFT under the Import Policy for Iron and Steel<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/highlights-of-the-2019-amendments-in-import-policy-for-iron-and-steel\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/corpbiz.io\/learning\/highlights-of-the-2019-amendments-in-import-policy-for-iron-and-steel\/#FAQs\" >FAQs<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Amendment_to_the_Import_Policy_for_Iron_and_Steel\"><\/span>Amendment to the Import Policy for Iron and Steel<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <strong>Steel Import Monitoring System<\/strong> (SIMS) will require importers to submit advance information through an online system to import the listed items and obtain an automatic registration number by paying a specified fee. These items include stranded wire, ropes, cables, certain flat-rolled products, and leaves for springs of iron and steel tubes, diesel-electric locomotives,\u00a0 pipes and hollow profiles and some parts of railways.<\/p>\n\n\n\n<p>The government has made it mandatory for traders to register with the Steel Import Monitoring System (SIMS) under the Import Policy for Iron and Steel, to import a list of iron and steel products, as mentioned in the following section. The Policy Condition to Chapter 72. 73 and 86 of ITC (HS): Import policy for the items has been revised from &#8216;free&#8217; to &#8216;free subject to compulsory registration. These chapters include<\/p>\n\n\n\n<ul>\n<li>Chapter 72: Basic steel<\/li>\n\n\n\n<li>Chapter 73: Steel Products, and<\/li>\n\n\n\n<li>Chapter 86: Railway rolling stock to control imports<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"List_of_Items_identified_under_the_Import_Policy_for_Iron_and_Steel\"><\/span>List of Items identified under the Import Policy for Iron and Steel<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table aligncenter\"><table><tbody><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td><strong>S.No.<\/strong><\/td><td><strong>HS Code<\/strong><\/td><td><strong>S.No.<\/strong><\/td><td><strong>HS Code<\/strong><\/td><td><strong>S.No.<\/strong><\/td><td><strong>HS Code<\/strong><\/td><\/tr><tr><td>1<\/td><td>72044900<\/td><td>96<\/td><td>72085290<\/td><td>191<\/td><td>73269080<\/td><\/tr><tr><td>2<\/td><td>72042190<\/td><td>97<\/td><td>72283011<\/td><td>192<\/td><td>73045930<\/td><\/tr><tr><td>3<\/td><td>72251100<\/td><td>98<\/td><td>72112950<\/td><td>193<\/td><td>73021010<\/td><\/tr><tr><td>4<\/td><td>72026000<\/td><td>99<\/td><td>72193410<\/td><td>194<\/td><td>73182200<\/td><\/tr><tr><td>5<\/td><td>72104900<\/td><td>100<\/td><td>72191190<\/td><td>195<\/td><td>73259910<\/td><\/tr><tr><td>6<\/td><td>72251920<\/td><td>101<\/td><td>72031000<\/td><td>196<\/td><td>73045910<\/td><\/tr><tr><td>7<\/td><td>72254019<\/td><td>102<\/td><td>72261100<\/td><td>197<\/td><td>73259999<\/td><\/tr><tr><td>8<\/td><td>72083840<\/td><td>103<\/td><td>72254012<\/td><td>198<\/td><td>73043931<\/td><\/tr><tr><td>9<\/td><td>72022100<\/td><td>104<\/td><td>72082730<\/td><td>199<\/td><td>73239990<\/td><\/tr><tr><td>10<\/td><td>72085110<\/td><td>105<\/td><td>72286012<\/td><td>200<\/td><td>73121020<\/td><\/tr><tr><td>11<\/td><td>72106100<\/td><td>106<\/td><td>72149990<\/td><td>201<\/td><td>73043939<\/td><\/tr><tr><td>12<\/td><td>72107000<\/td><td>107<\/td><td>72171010<\/td><td>202<\/td><td>73072900<\/td><\/tr><tr><td>13<\/td><td>72083930<\/td><td>108<\/td><td>72193320<\/td><td>203<\/td><td>73041990<\/td><\/tr><tr><td>14<\/td><td>72071290<\/td><td>109<\/td><td>72051011<\/td><td>204<\/td><td>73041190<\/td><\/tr><tr><td>15<\/td><td>72091790<\/td><td>110<\/td><td>72283024<\/td><td>205<\/td><td>73079190<\/td><\/tr><tr><td>16<\/td><td>72202090<\/td><td>111<\/td><td>72222019<\/td><td>206<\/td><td>73063090<\/td><\/tr><tr><td>17<\/td><td>72253090<\/td><td>112<\/td><td>72249010<\/td><td>207<\/td><td>73262090<\/td><\/tr><tr><td>18<\/td><td>72083790<\/td><td>113<\/td><td>72085190<\/td><td>208<\/td><td>73181400<\/td><\/tr><tr><td>19<\/td><td>72103090<\/td><td>114<\/td><td>72126000<\/td><td>209<\/td><td>73090090<\/td><\/tr><tr><td>20<\/td><td>72083940<\/td><td>115<\/td><td>72259100<\/td><td>210<\/td><td>73062100<\/td><\/tr><tr><td>21<\/td><td>72083990<\/td><td>116<\/td><td>72089000<\/td><td>211<\/td><td>73021090<\/td><\/tr><tr><td>22<\/td><td>72101290<\/td><td>117<\/td><td>72223099<\/td><td>212<\/td><td>73084000<\/td><\/tr><tr><td>23<\/td><td>72255010<\/td><td>118<\/td><td>72222099<\/td><td>1&nbsp;213<\/td><td>73151290<\/td><\/tr><tr><td>24<\/td><td>72209090<\/td><td>119<\/td><td>72101210<\/td><td>214<\/td><td>73239390<\/td><\/tr><tr><td>25<\/td><td>72193390<\/td><td>120<\/td><td>72051021<\/td><td>215<\/td><td>73199000<\/td><\/tr><tr><td>26<\/td><td>72142090<\/td><td>121<\/td><td>72085210<\/td><td>216<\/td><td>73182300<\/td><\/tr><tr><td>27<\/td><td>72199090<\/td><td>122<\/td><td>72082740<\/td><td>217<\/td><td>73083000<\/td><\/tr><tr><td>28<\/td><td>72284000<\/td><td>123<\/td><td>72082630<\/td><td>218<\/td><td>73151100<\/td><\/tr><tr><td>29<\/td><td>72029300<\/td><td>124<\/td><td>72123090<\/td><td>219<\/td><td>73202000<\/td><\/tr><tr><td>30<\/td><td>72283029<\/td><td>125<\/td><td>72052100<\/td><td>220<\/td><td>73110090<\/td><\/tr><tr><td>31<\/td><td>72021100<\/td><td>126<\/td><td>72221119<\/td><td>221<\/td><td>73071900<\/td><\/tr><tr><td>32<\/td><td>72193490<\/td><td>127<\/td><td>72104100<\/td><td>222<\/td><td>73242900<\/td><\/tr><tr><td>33<\/td><td>72299090<\/td><td>128<\/td><td>72061090<\/td><td>223<\/td><td>73042400<\/td><\/tr><tr><td>34<\/td><td>72283019<\/td><td>129<\/td><td>72155090<\/td><td>224<\/td><td>73079290<\/td><\/tr><tr><td>35<\/td><td>72210090<\/td><td>130<\/td><td>72082590<\/td><td>225<\/td><td>73201011<\/td><\/tr><tr><td>36<\/td><td>72249091<\/td><td>131<\/td><td>72112990<\/td><td>226<\/td><td>73011000<\/td><\/tr><tr><td>37<\/td><td>72091690<\/td><td>132<\/td><td>72099000<\/td><td>227<\/td><td>73043119<\/td><\/tr><tr><td>38<\/td><td>72279040<\/td><td>133<\/td><td>72283022<\/td><td>228<\/td><td>73249000<\/td><\/tr><tr><td>39<\/td><td>72191200<\/td><td>134<\/td><td>72122090<\/td><td>229<\/td><td>73181190<\/td><\/tr><tr><td>40<\/td><td>72279090<\/td><td>135<\/td><td>72223019<\/td><td>230<\/td><td>73051121<\/td><\/tr><tr><td>41<\/td><td>72173010<\/td><td>136<\/td><td>72181000<\/td><td>231<\/td><td>73072100<\/td><\/tr><tr><td>42<\/td><td>72191300<\/td><td>137<\/td><td>72139990<\/td><td>232<\/td><td>73261910<\/td><\/tr><tr><td>43<\/td><td>72083690<\/td><td>138<\/td><td>72172020<\/td><td>233<\/td><td>73042910<\/td><\/tr><tr><td>44<\/td><td>72259200<\/td><td>139<\/td><td>72286011<\/td><td>234<\/td><td>73159000<\/td><\/tr><tr><td>45<\/td><td>72021900<\/td><td>140<\/td><td>72254011<\/td><td>235<\/td><td>73043919<\/td><\/tr><tr><td>46<\/td><td>72042990<\/td><td>141<\/td><td>72029100<\/td><td>236<\/td><td>73063010<\/td><\/tr><tr><td>47<\/td><td>72083830<\/td><td>142<\/td><td>72139920<\/td><td>237<\/td><td>73079390<\/td><\/tr><tr><td>48<\/td><td>72259900<\/td><td>143<\/td><td>72083610<\/td><td>238<\/td><td>73182100<\/td><\/tr><tr><td>49<\/td><td>72193590<\/td><td>144<\/td><td>72269952<\/td><td>239<\/td><td>73158900<\/td><\/tr><tr><td>50<\/td><td>72083890<\/td><td>145<\/td><td>72051019<\/td><td>240<\/td><td>73102910<\/td><\/tr><tr><td>51<\/td><td>72105000<\/td><td>146<\/td><td>72029990<\/td><td>241<\/td><td>73219000<\/td><\/tr><tr><td>52<\/td><td>72091890<\/td><td>147<\/td><td>72192112<\/td><td>242<\/td><td>73269060<\/td><\/tr><tr><td>53<\/td><td>72029200<\/td><td>148<\/td><td>72230092<\/td><td>243<\/td><td>73141490<\/td><\/tr><tr><td>54<\/td><td>72179099<\/td><td>149<\/td><td>72230099<\/td><td>244<\/td><td>73089010<\/td><\/tr><tr><td>55<\/td><td>72172010<\/td><td>150<\/td><td>72143000<\/td><td>245<\/td><td>73151900<\/td><\/tr><tr><td>56<\/td><td>72189910<\/td><td>151<\/td><td>72159090<\/td><td>246<\/td><td>73045920<\/td><\/tr><tr><td>57<\/td><td>72022900<\/td><td>152<\/td><td>72051090<\/td><td>247<\/td><td>73231000<\/td><\/tr><tr><td>58<\/td><td>72106900<\/td><td>153<\/td><td>72045000<\/td><td>248<\/td><td>73102190<\/td><\/tr><tr><td>59<\/td><td>72269930<\/td><td>154<\/td><td>72139120<\/td><td>249<\/td><td>73211110<\/td><\/tr><tr><td>60<\/td><td>72024100<\/td><td>155<\/td><td>72192219<\/td><td>250<\/td><td>73065000<\/td><\/tr><tr><td>61<\/td><td>72027000<\/td><td>156<\/td><td>72151000<\/td><td>251<\/td><td>73045110<\/td><\/tr><tr><td>62<\/td><td>72082790<\/td><td>157<\/td><td>72193420<\/td><td>252<\/td><td>73141990<\/td><\/tr><tr><td>63<\/td><td>72024900<\/td><td>158<\/td><td>72011000<\/td><td>253<\/td><td>73101090<\/td><\/tr><tr><td>64<\/td><td>72251990<\/td><td>159<\/td><td>72121090<\/td><td>254<\/td><td>73241000<\/td><\/tr><tr><td>65<\/td><td>72285090<\/td><td>160<\/td><td>72193290<\/td><td>255<\/td><td>73170099<\/td><\/tr><tr><td>66<\/td><td>72041000<\/td><td>161<\/td><td>72202029<\/td><td>256<\/td><td>73170019<\/td><\/tr><tr><td>67<\/td><td>72044100<\/td><td>162<\/td><td>72269210<\/td><td>257<\/td><td>73069019<\/td><\/tr><tr><td>68<\/td><td>72109090<\/td><td>163<\/td><td>72286094<\/td><td>258<\/td><td>73121010<\/td><\/tr><tr><td>69<\/td><td>72139190<\/td><td>164<\/td><td>72199013<\/td><td>259<\/td><td>73182910<\/td><\/tr><tr><td>70<\/td><td>72191400<\/td><td>165<\/td><td>72221999<\/td><td>260<\/td><td>73043921<\/td><\/tr><tr><td>71<\/td><td>72269990<\/td><td>166<\/td><td>72193190<\/td><td>261<\/td><td>73141410<\/td><\/tr><tr><td>72<\/td><td>72281090<\/td><td>167<\/td><td>73269099<\/td><td>262<\/td><td>73023000<\/td><\/tr><tr><td>73<\/td><td>72091620<\/td><td>168<\/td><td>73181500<\/td><td>263<\/td><td>73259930<\/td><\/tr><tr><td>74<\/td><td>72083740<\/td><td>169<\/td><td>73089090<\/td><td>264<\/td><td>73182400<\/td><\/tr><tr><td>75<\/td><td>72052990<\/td><td>170<\/td><td>73181600<\/td><td>265<\/td><td>73066900<\/td><\/tr><tr><td>76<\/td><td>72125090<\/td><td>171<\/td><td>73064000<\/td><td>266<\/td><td>73269070<\/td><\/tr><tr><td>77<\/td><td>72251910<\/td><td>172<\/td><td>73182990<\/td><td>267<\/td><td>73043139<\/td><\/tr><tr><td>78<\/td><td>72124000<\/td><td>173<\/td><td>73049000<\/td><td>268<\/td><td>73239490<\/td><\/tr><tr><td>79<\/td><td>72082690<\/td><td>174<\/td><td>73044900<\/td><td>269<\/td><td>73072200<\/td><\/tr><tr><td>80<\/td><td>72091720<\/td><td>175<\/td><td>73079990<\/td><td>270<\/td><td>73144190<\/td><\/tr><tr><td>81<\/td><td>72071920<\/td><td>176<\/td><td>73066100<\/td><td>271<\/td><td>73259920<\/td><\/tr><tr><td>82<\/td><td>72192190<\/td><td>177<\/td><td>73129000<\/td><td>272<\/td><td>86021000<\/td><\/tr><tr><td>83<\/td><td>72254013<\/td><td>178<\/td><td>73209090<\/td><td>273<\/td><td>86079990<\/td><\/tr><tr><td>84<\/td><td>72173020<\/td><td>179<\/td><td>73121090<\/td><td>274<\/td><td>86090000<\/td><\/tr><tr><td>85<\/td><td>72029932<\/td><td>180<\/td><td>73061100<\/td><td>275<\/td><td>86040000<\/td><\/tr><tr><td>86<\/td><td>72163300<\/td><td>181<\/td><td>73102990<\/td><td>276<\/td><td>86071910<\/td><\/tr><tr><td>87<\/td><td>72083730<\/td><td>182<\/td><td>73261990<\/td><td>277<\/td><td>86031000<\/td><\/tr><tr><td>88<\/td><td>72249099<\/td><td>183<\/td><td>73181900<\/td><td>278<\/td><td>86079100<\/td><\/tr><tr><td>89<\/td><td>72173030<\/td><td>184<\/td><td>73044100<\/td><td>279<\/td><td>86072900<\/td><\/tr><tr><td>90<\/td><td>72299032<\/td><td>185<\/td><td>73042990<\/td><td>280<\/td><td>86071990<\/td><\/tr><tr><td>91<\/td><td>72192390<\/td><td>186<\/td><td>73069090<\/td><td>281<\/td><td>86073090<\/td><\/tr><tr><td>92<\/td><td>72288090<\/td><td>187<\/td><td>73041110<\/td><td>282<\/td><td>86080090<\/td><\/tr><tr><td>93<\/td><td>72230091<\/td><td>188<\/td><td>73042390<\/td><td>283<\/td><td>86072100<\/td><\/tr><tr><td>94<\/td><td>72193310<\/td><td>189<\/td><td>73041910<\/td><td>284<\/td><td>86080030<\/td><\/tr><tr><td>95<\/td><td>72052910<\/td><td>190<\/td><td>73251000<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Steel_Import_Monitoring_System\"><\/span>Steel Import Monitoring System<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The new monitoring system, i.e. SIMS, now requires importers to submit advance information online to import items mentioned in the table and obtain an automatic Registration Number. SIMS has been effective from 01.11.2019. Therefore, the Bill of Entry on or after 01.11.2019 for the items listed above is now governed by SIMS. The facility&#8217;s online registration has been made available from 16.09.2019 onwards. This system is supposed to act as a non-tariff barrier, requiring prior steel import registration under the amended Import Policy for Iron and Steel.<\/p>\n\n\n\n<p>Applicants can register with the system by paying a registration fee of Rs.1 per thousand, subject to a maximum of Rs. 1 lakh and a minimum of Rs.500\/ on CIF value. The importer can only apply for registration not earlier than sixty days and not later than 15&nbsp;days before the expected arrival date of the import consignment. The automatic Registration Number thus granted remains valid for 75 days.<\/p>\n\n\n\n<p>The window will close 15 days before the expected date of import. The process can begin only 60 days before the date of import and not later than 15 days before the arrival date of the import consignment.<\/p>\n\n\n\n<p>The registration under the amended Import Policy for Iron and Steel is subject to payment of a registration fee of Rupees 1\/- per 1000 to up to a maximum of Rs 1 lakh on the CIF value.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_points_to_remember_under_Import_Policy_for_Iron_and_Steel\"><\/span>Important points to remember under Import Policy for Iron and Steel<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For application in case of new registration under the Import Policy for Iron and Steel for the import of Items defined in the ITC (HS) 2017<strong>,&nbsp;<\/strong>the importer needs to<\/p>\n\n\n\n<ul>\n<li>Register on the DGFT Website<\/li>\n\n\n\n<li>Link their existing <strong><a href=\"https:\/\/corpbiz.io\/iec-registration\">IEC<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/corpbiz.io\/dsc-registration\">Register the DSC<\/a><\/strong><\/li>\n<\/ul>\n\n\n\n<p>After following these stages, the applicant can apply for SIMS under new authorisation.<\/p>\n\n\n\n<p>Over 524 steel tariff lines (8-digit HS Code) require registration for imports into India under the Import Policy for Iron and Steel. All steel products that are entering into India require prior registration before imports.<\/p>\n\n\n\n<p>The license must be filled out before submitting the Bill of Entry with Customs. It should be filled out 15 to 60 days before the expected arrival of the imports into India, and the automatic registration number granted shall be valid for 75 days.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Provisions_related_to_the_import_of_Metallic_Scrap\"><\/span>Provisions related to the import of Metallic Scrap<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In case of import of Metallic Waste and Scrap of any form of metallic scrap or waste will be subject to the condition that it will not contain any hazardous mines, shells, toxic waste, radioactively contaminated scrap containing radioactive material, any arms, ammunition, live or used cartridge or any other explosive material in any form either used or otherwise.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Other_Services_hosted_by_DGFT_under_the_Import_Policy_for_Iron_and_Steel\"><\/span>Other Services hosted by DGFT under the Import Policy for Iron and Steel<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul>\n<li>Import Authorisation for Restricted Imports<\/li>\n\n\n\n<li>Tariff Rate Quota<\/li>\n\n\n\n<li>Registration Certificate for Import<\/li>\n\n\n\n<li>Coal Import Monitoring System<\/li>\n\n\n\n<li>Copper Aluminium Import Monitoring System<\/li>\n\n\n\n<li>Chip Import Monitoring System<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>DGFT, through its power under the FTDR Act, notifies restrictions, quotas or conditions on importing goods into India. These restrictions require a licence or registration to be applied for and approved before imports. The modules released by the government allow importers to apply for import licences and other registrations, which DGFT issues as per the Import Policy for Iron and Steel. One license application can cover multiple products. Under the Import Policy for Iron and Steel, SIMS provides various items for each registration, provided the importer, exporter, manufacturer, country of origin, and port of exportation are the same.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\"><strong class=\"schema-faq-question\">What does SIMS stand for? Why was it created?<\/strong> <p class=\"schema-faq-answer\">SIMS is a Steel Importing Monitoring System instituted by the Ministry of Commerce and Industry, Government of India, to provide advanced information about steel imports to the government and relevant stakeholders.<\/p> <\/div> <div class=\"schema-faq-section\"><strong class=\"schema-faq-question\">Who is required to fill out the license?<\/strong> <p class=\"schema-faq-answer\">Any business importing steel products covered under the licensing program must create a license for concerned imports. Importers, importing agents, or brokers may apply for this license. Please ensure that the contact person is named.<\/p> <\/div> <div class=\"schema-faq-section\"><strong class=\"schema-faq-question\">Does the importer need a license for each shipment?<\/strong> <p class=\"schema-faq-answer\"> Yes, a license is required for each customs entry. You may include multiple products on one license as well.<\/p> <\/div> <div class=\"schema-faq-section\"><strong class=\"schema-faq-question\">What is the application fee for registration to SIMS?<\/strong> <p class=\"schema-faq-answer\">A registration fee of INR 1 per thousand, subject to a maximum of INR 1 Lakh and a minimum of 500, on the aggregate CIF value of imports, will need to be paid electronically in the online system for each import registration.<\/p> <\/div> <div class=\"schema-faq-section\"><strong class=\"schema-faq-question\">What products are covered under the notification?<\/strong> <p class=\"schema-faq-answer\">Over 524 steel tariff lines (8-digit HS Code) require registration for imports into India. A detailed list of these HS codes is available in the dropdown of the \u201cHS Code and Description\u201d field in the Items Details section of the application.<\/p> <\/div> <div class=\"schema-faq-section\"><strong class=\"schema-faq-question\">Where can we apply for SIMS or get the link to apply for SIMS? <\/strong> <p class=\"schema-faq-answer\">Under the SIMS, look for Import Management System on the Services option and then choose Steel Import Monitoring System. After that, one can proceed for New Authorization.<\/p> <\/div> <div class=\"schema-faq-section\"><strong class=\"schema-faq-question\">How many Manufacturers and Sellers can we add under one application for SIMS? <\/strong> <p class=\"schema-faq-answer\">One can only add One Seller and One Manufacturer under one SIMS license application.<\/p> <\/div> <div class=\"schema-faq-section\"><strong class=\"schema-faq-question\">What to do if I am unaware of the IS Code definition basis steel grade?<\/strong> <p class=\"schema-faq-answer\">IS Code specifications are created by the BIS (Bureau of Indian Standards) for many products. If you are unaware of the IS Code definition basis steel grade, please research the BIS website for the relevant IS Codes. If you can\u2019t find the IS code that matches your exact specification, please fill in technical information about the product being imported in the \u201cTechnical Details\u201d field.<\/p> <\/div> <div class=\"schema-faq-section\"><strong class=\"schema-faq-question\">How exactly is the \u2018Country of origin\u2019 defined?<\/strong> <p class=\"schema-faq-answer\">This is defined in line with the rules of origin definition laid out. These rules are different across various national and international laws. Please refer to the relevant rules of origin while filling this field.<\/p> <\/div> <div class=\"schema-faq-section\"><strong class=\"schema-faq-question\">What if I discover an error after submitting the license? <\/strong> <p class=\"schema-faq-answer\">For all licenses that are not yet submitted (applies to situations where the fee payment has also been made), you can modify the support from the \u201cDrafts\u201d section on the website. No changes can be made if you have submitted the license application.<\/p> <\/div> <\/div>\n\n\n\n<p class=\"text-left\"><b>Read Our Article<\/b>: <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/sims-registration-for-steel-importers\/\">SIMS Registration For Steel Importers: Know Legalities<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DGFT, under the Foreign Trade Act, 1992, has issued a notification amending the Import Policy for around 284 steel and related items. These items relate to chapters 72, 73 and 86 of ITC (HS), 2017, in Schedule \u2013I. The and has inserted additional Policy conditions in the Import Policy for Iron and Steel and changed [&hellip;]<\/p>\n","protected":false},"author":85,"featured_media":59482,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[165],"tags":[3850],"acf":{"service_id":"706"},"authorName":"Shuchi Saxena","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2024\/03\/suchi.png","authorDescription":"Shuchi Saxena is an experienced business advisor with 10+ years of experience in management consulting. Maintaining a creative flow while writing content comes naturally to her. 99.2% of her writeups are problem-solving and help readers get what they intend to look out for. Her expertise lies in Startup Advisory, Regulations, Consulting, Environmental Advisory, etc.","postViews":2713,"readingTime":5,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/59456"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/85"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=59456"}],"version-history":[{"count":13,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/59456\/revisions"}],"predecessor-version":[{"id":69614,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/59456\/revisions\/69614"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/59482"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=59456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=59456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=59456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}