In News: Import under all HS codes of Chapters 72, 73 and 86 of ITC (HS), 2017, Schedule − I shall require compulsory registration under the Steel Import Monitoring System (SIMS) as per DGFT Notification No. 33 dated 28th September 2020.
- The Commerce and Industry Ministry launched Steel Import Monitoring System (SIMS) which will provide advance information about steel import to government and other stakeholders, including producers and consumers, to have effective policy interventions.
- Importer can apply for online registration not earlier than 60th day and not later than 15th 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
- A registration fee of Rs 1 per thousand subject to a minimum of Rs.500/− and a maximum of Rs 1 Lakh on aggregate CIF value of imports will need to be paid through electronic mode in the online system for each registration number
- Importer shall have to enter the Registration Number and expiry date of Registration in the Bill of Entry to enable Customs for clearance of consignment
Other related information
- On registration, a Unique Registration Number (URN) starting with ‘STL’ will be sent to the IEC holders mobile/email id (as given in IEC database)
- SIMS also has the facility to view earlier online registrations. In addition, incomplete applications which have not been submitted for registration on the DGFT portal are also available in the SIMS for review and further action
- Any change in applicant’s mobile/email id will need to be first amended/updated in DGFT IEC database through the online IEC modification system
- Importers who fail to register their information/data on notified steel items in advance or are found to furnish incorrect data in the Online SIMS module will attract punitive action including action under FTDR Act, 1992
- Online Steel Import Monitoring System (SIMS) is available on a 24X7 basis. However, in the interest of trade/importers, it is suggested that registrations are filed/obtained fairly well in advance to avoid disruptions in the business activity of the firm.
- There have been complaints from officials that collecting data on what grade of steel was being imported, how much was being imported, from where, and what the domestic market potential is quite difficult.
- The government wants to assure the export community that the SIMS is not a licensing mechanism, and that nobody will be stopped from importing.