Central Govt revises Registration Fees under Steel Import Monitoring Systems (SIMS) [Read Circular]

On August 28, 2023, the Directorate General of Foreign Trade (DGFT) released notification number 28/2023, announcing the revised registration fee for the Steel Import Monitoring System (SIMS) with immediate effect.

Exercising the authority granted by Section 3 and Section 9 of the Foreign Trade (Development and Regulation) Act, 1992, in conjunction with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2023, the Central Government made changes to Policy Condition No. 4(c) of Chapter 72, Policy Condition No. 3(c) of Chapter 73, and Policy Condition No. 3(c) of Chapter 86 within Schedule 1 – Import Policy – ITC(HS) 2022, with immediate effect:

Existing Policy Condition

The Steel Importing Monitoring System (SIMS) shall require importers to submit advance information in an online system for import of items and obtain an automatic Registration Number by paying registration fee of Rs. 1 per thousand subject to minimum of Rs. 500/ and maximum of Rs. 1 lakh on CIF value.

The importer can apply for registration not earlier than 60th 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.

Revised Policy Condition

The Steel Importing Monitoring System (SIMS) shall require importers to submit advance information in an online system for the import of items and obtain an automatic Registration Number by paying the registration fee of Rs.500 /-. The importer can apply for registration not earlier than 60 days before the expected date of arrival of the import consignment. The automatic Registration Number thus granted shall remain valid for a period of 75 days.