DGFT suspends SIONs in Annexure A with Immediate Effect: Know Why [Read Notification]
DGFT suspended SION mentioned at Annexure "A" to this Public Notice with immediate effect
DGFT – Standard Input Output Norms – SION – DGFT SION suspension – SION suspension – taxscan
DGFT – Standard Input Output Norms – SION – DGFT SION suspension – SION suspension – taxscan
The Directorate General of Foreign Trade ( DGFT ), vide public notice No. 03/2024-25 dated 03rd May 2024 has been notified to suspend the Standard Input-Output Norms ( SION ) mentioned at Annexure “A” with immediate effect.
Citing authority derived from paragraph 1.03 and 2.04 of the Foreign Trade Policy, 2023, as amended periodically, the Director General of Foreign Trade has formally suspended the SIONs listed in Annexure "A" of the Public Notice.
The notification stated that “In exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy, 2023, as amended from time to time; the Director General of Foreign Trade hereby suspends Standard Input-Output Norms ( SION ) mentioned at Annexure "A" to this Public Notice with immediate effect.”
The decision to suspend these SIONs stems from officials' observation that the norms listed in Annexure "A" have remained inactive for the past five years. Consequently, they are being suspended with immediate effect.
The DGFT, under the Ministry of Commerce and Industry, is responsible for formulating and updating SIONs based on inputs from industry stakeholders, trade bodies, and government agencies.
To Read the full text of the Order CLICK HERE
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