By A V International August 30, 2023

Central Govt. changes the Registration Fees for SIMS to Rs.500/- flat

The Central Government makes amendment in the policy condition No. 4(c) of chapter 72, policy condition No. 3(c) of chapter 73, policy condition No. 3(c) of chapter 86 of Schedule I of the Import Policy of ITC (HS), 2022, which states that the registration fees for SIMS which was INR 1 per thousand subjects to a minimum of Rs.500/- and a maximum of Rs 1 Lakh on aggregate CIF has now been amended to Rs.500/- per registration only.

The policy condition is showed in the table below.

Existing Policy Condition

Revised Policy Conditions

The Steel Import 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 the registration fee of INR 1 per thousand subjects to a minimum of Rs.500/- and a maximum of Rs 1 Lakh on aggregate CIF value. The importer can apply for registration not earlier than 60^th 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.

The Steel Import 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 the registration fee of Rs.500/-. The importer can apply for registration not earlier than 60^th 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.