Government Amends Import Rules for Iron & Steel Products
S.O. (E): The Central Government, under the powers granted by Section 3 and Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, and in accordance with paragraphs 1.02 and 2.01 of the Foreign Trade Policy (FTP) 2023, has announced an important update.
Effective immediately, the policy conditions for certain items under specific HS codes of Chapter 73 of ITC (HS), 2022, Schedule-I (Import Policy) have been amended.
These changes aim to streamline and regulate the import of specific iron and steel products listed under Chapter 73.
|
ITC(HS) Code |
Description |
Import Policy |
Existing Policy Condition |
Revised Policy Condition |
|
73151100 |
Articulated link chain and parts thereof: – Roller chain |
Free |
– |
However, import of roller chains and parts thereof having a CIF value of less than Rs 235 per kilogram is ‘Restricted’ |
|
73151900 |
Articulated link chain and parts thereof: – Parts |
Free |
– |
|
|
73159000 |
Other parts |
Free |
– |
Effect of the Notification:
Import of Roller Chains and parts thereof under ITC(HS) codes 73151100, 73151900 and 73159000, having a CIF value of less than 235 per kilogram, is 'Restricted'.
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