DGFT amends the import policy of Copper and Aluminum under ITC(HS), 2017

Apr 08, 2021 | by Avantis RegTech Legal Research Team

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Finance & Taxation Compliance

The Directorate General of Foreign Trade (DGFT) on March 31, 2021 has amended the import policy of Copper and Aluminum under Chapter 74 & Chapter 76 of ITC(HS), 2017.

In Schedule I under ITC (HS), 2017 related to Import Policy, the following amendment has been made: -

• In Chapter 74 & Chapter 76 (as Policy Condition 3) of ITC(HS) 2017 regarding Copper and Articles Thereof & Aluminum and Articles Thereof respectively, a new policy has been inserted, as under: -

“Import Policy for the items as listed in Annexure-I & II respectively have been revised from ‘Free’ to ‘Free subject to compulsory registration’ under Non-Ferrous Metal Import Monitoring System (NFMIMS).”

• The Non-Ferrous Metal Import Monitoring System (NFMIMS) require importers to submit advance information in an online system for import of items in Annexure-I (Copper) and Annexure -II (Aluminum).

•  The Importer shall enter the registration number and expiry date of registration in the Bill of Entry.

• The Non-Ferrous Metal Import Monitoring System (NFMIMS) listed items at Annexure-I (Copper) and Annexure -II (Aluminum) will be effective from April 12, 2021. 

Therefore, Compulsory registration for Import of items specified in Chapter-74 & 76 of ITC(HS) 2021 under Non-Ferrous Metal Import Monitoring System (NFMIMS).

[Notification No- 61/2015-2020]

 


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