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.
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