DGFT suspends inoperative SIONs with effect from 1st April, 2024
The Director General of Foreign Trade suspends Standard Input-Output Norms (SION) mentioned in the Annexure ‘A’ with effect from 1st April, 2024.
This change is meant to make trade simpler by getting rid of Norms that haven't been used in the last five years. The suspensions mostly affect the 2513 Norms in the Engineering industry and 1658 Norms in the Chemical industry.
Following these rules allows exporters to bring in materials duty-free, based on specific input-output ratios. Suspending these rules is part of a bigger plan by the DGFT to make trade smoother, faster and more efficient by getting rid of inoperative SIONs. The SIONs have been inoperative for the past five years, so they're being suspended.
Any Importer/Exporter who might be affected by this suspension of any SION which is due for 1st April, 2024, can submit an application for reinstatement to the DGFT vide e-mail, not later than 15th March, 2024.
Please refer to the PDF document for learning about all the suspended SIONs in the Annexure ‘A’
DGFT
Legal
Company Secretarial
DGFT Notifications
Others
Recent Posts
- Deadline for Filing Annual RODTEP Return (ARR) for FY 2023-24 Extended to 30th June 2025
- Advance Authorisation License Norms Fixation: Everything You Need to Know in 2025
- Advance License Authorisation Amendment: Latest Updates and Simplified Guide (2025)
- Bombay High Court Rules: No Interest or Penalty on IGST for Past Imports under Advance Authorisation
- Advance Authorisation License Clubbing: A Complete 2025 Guide to New Rules, Benefits & Compliance
- Call for Feedback: Review of Automobile Tyre SIONs
- Revalidation and Extension of Export Obligation Period for Advance Authorisation License
- How to Procure Raw Materials Domestically Through ‘Advance Authorisation License’ Invalidation
FeATURED ARTICLES
Deadline for Filing Annual RODTEP Return (ARR) for FY 2023-24 Extended to 30th June 2025 As per the recent update…
Advance Authorisation License Norms Fixation: Everything You Need to Know in 2025 For Indian exporters, obtaining an Advance Authorisation license…
Advance License Authorisation Amendment: Latest Updates and Simplified Guide (2025) The Advance License Authorisation Amendment process is an important step…
Bombay High Court Rules No Interest or Penalty on IGST for Past Imports under Advance Authorisation In a landmark judgment,…
