CBIC Sets Minimum Import Price for Synthetic Knitted Fabrics Until September 15, 2024 [Read Notification]

The Central Board of Indirect taxes and Customs ( CBIC ), vide notification no. 77/2023 dated 16th March 2024 has imposed a minimum import price of US Dollar 3.50 per Kilogram for the Synthetic Knitted Fabrics Until September 15, 2024.

In exercise of powers conferred by Section 3 read with Section 5 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2023, as amended from time to time, the Central Government hereby revises the Import Policy and Import Policy Condition of the following ITC(HS) Codes under Chapter 60 of ITC (HS) 2022, Schedule–I(Import Policy), for the period up to 15th September 2024 as under:

ITC(HS) Code	Item Description	Import Policy	Revised Import Policy	Existing Policy condition	Revised Policy condition
60063100	-Of synthetic fibres : -- Unbleached or bleached	Free	Prohibited	-	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60063200	-Of synthetic fibres : -- Dyed	Free	Prohibited	-	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60063300	-Of synthetic fibres : -- Of yarns of different colours	Free	Prohibited	-	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60063400	-Of synthetic fibres : -- Printed	Free	Prohibited	-	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram
60069000	Other	Free	Prohibited	-	However, import is ‘Free’ if CIF value is 3.5 US Dollar and above per Kilogram

The current "Free" Import Policy, as it exists before the issuance of this notification.

To Read the full text of the Notification CLICK HERE

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