DGFT clarifies no Country-wise Quantitative Restriction (QR) applicable on Import of Isopropyl alcohol by SEZ units [Read Circular]
DGFT clarifies no Country-wise Quantitative Restriction (QR) applicable on Import of Isopropyl alcohol – SEZ units – TAXSCAN
DGFT clarifies no Country-wise Quantitative Restriction (QR) applicable on Import of Isopropyl alcohol – SEZ units – TAXSCAN
The Directorate General of Foreign Trade (DGFT) vide circular number 04/2023-24 issued on 31st August 2023 clarified that there will be no country wise Quantitative Restriction (QR) applicable on Import of Isopropyl alcohol (IPA) by SEZ units.
Following the release of Notification No. 64/2015-20 on March 31, 2023, by the DGFT, which introduced safeguard measures in the form of Country-specific Quantitative Restrictions (QR) on the import of Isopropyl alcohol (HS code 29051220) for the fiscal year 2023-24, the DGFT has received several inquiries and requests for clarification from trade, industry, and Export Promotion Councils regarding the application of these measures to imports by Special Economic Zone (SEZ) units.
Consequently, after thorough examination in collaboration with the DGTR, it has been observed that the DGTR's investigation into the rise in import volume and its resulting harm to the domestic industry primarily relied on the import trend within the Domestic Tariff Area (DTA).
Hence, it is important to clarify that the import of Isopropyl alcohol (HS code 29051220) by Special Economic Zone (SEZ) units is not covered by Notification No. 64/2015-20 issued on March 31, 2023.
Consequently, the import of Isopropyl Alcohol in SEZs will not be subject to country-specific Quantitative Restrictions (QRs), as long as SEZ units do not engage in any Domestic Tariff Area (DTA) sales of Isopropyl Alcohol (HS code 29051220).
Policy Condition Notification No. 64/2015-2020 Dated: 31 March, 2023
| Exim Code | Item Description | Policy | New Policy condition |
| 29051220 | Isopropyl alcohol (IPA) | Free | Policy Condition No. (6) Import of Isopropyl alcohol (IPA) shall be allowed subject to country-wise Quantitative Restriction (QR) for a period of one year only i.e., 2023-24 effective from 01.04.2023, unless notified otherwise subject to a valid Registration Certificate(RC) issued by the DGFT. |
To Read the full text of the Order CLICK HERE
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