Govt expands scope of steel import monitoring

The importer can apply for registration not earlier than 60th day and not later than 15 days before the expected date of arrival of import consignment

The government has tightened the norms for import of certain items using tools such as pre-import registration, hike in duty rates, and 100 per cent security for provisional assessment.
 

The Steel Import Monitoring System (SIMS) was introduced in November 2019 for 250 specified iron and steel items only. SIMS requires the importers to submit advance information in an online system for import of specified 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