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Corporate Laws Central Ministry of Finance Foreign Trade (Development and Regulation) Act, 1992

Amendment in Registration Fees under Steel Import Monitoring System (SIMS)

28-Aug-2023 | 28/2023

DGFT has issued a Notification regarding Amendment in Registration Fees under Steel Import Monitoring System (SIMS), effective from 28th August 2023.

By virtue of the Notification, the registration Fee under Steel Importing Monitoring System (SIMS) has been revised.

Key Points of the Notification:

1. Revision of Registration Fee: The notification brings about a revision in the registration fee for the Steel Import Monitoring System (SIMS). The registration fee for obtaining an automatic Registration Number through the SIMS has been revised.

2. Purpose of SIMS: The Steel Import Monitoring System (SIMS) is an online platform that requires importers to provide advance information about their intended imports of steel items. This system helps monitor and regulate the import of steel, ensuring transparency and effective control.

3. New Registration Fee: According to the revised notification, importers will now be required to pay a registration fee of Rs. 500/- to obtain an automatic Registration Number through the SIMS. This Registration Number is essential for initiating the import process.

4. Application Timeline: Importers can apply for registration through SIMS no earlier than the 60th day before the expected arrival date of the import consignment. This timeline ensures that the necessary information is submitted well in advance.

5. Validity of Registration Number: Upon successful registration, importers will be provided with an automatic Registration Number. This number will remain valid for a period of 75 days from the date of issuance.

Prior to this amendment, the registration fee for SIMS was calculated based on a rate of Rs. 1 per thousand, subject to a minimum of Rs. 500/- and a maximum of Rs. 1 lakh, based on the CIF (Cost, Insurance, and Freight) value of the import consignment.

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