SEATTLE (Scrap Monster): The Directorate General of Foreign Trade (DGFT) in India announced one-time extension to the last date for steel importers to obtain the Steel Import Monitoring System (SIMS) registration. The original deadline of November 01, 2019 has now been extended to November 20, 2019, said the DGFT notification.
ALSO READ: India Aims to Emerge as the Global Hub of Steel Manufacturing
As per the system, importers are required to submit advance information for import of items through an online system. The importers need to make online payment of registration fees at the rate of Re 1 per thousand on the CIF value of imports, subject to a minimum fee of Rs 500 and a maximum of Rs. 1 lakh. Upon submission of online information, the system generates an automatic and unique Registration Number, which will remain valid for a period of 75 days. The process eliminates the need to submit any document manually.
The new system was launched by the Indian Commerce Ministry in consultation with the Ministry of Steel in providing advance information with regards to steel imports into the country.
Further to the new notification, all bills of entry on or after 21st November, 2019 will be controlled by the new system.
Copper Scrap View All | |
Alternator | 0.31 (0) |
#1 Copper Bare Bright | 3.63 (-0.03) |
Aluminum Scrap View All | |
356 Aluminum Wheels (Clean) | 0.72 (0) |
6061 Extrusions | 0.63 (0) |
Steel Scrap View All | |
#1 Bundle | 475.00 (0) |
#1 Busheling | 495.00 (0) |
Electronics Scrap View All |