The DGFT (Directorate General of Foreign Trade) has reduced the mandated registration fees under the Steel Import Monitoring System (SIMS) to a fixed amount of Rs 500 with an immediate effect.

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Earlier, the payable registration fee was Rs 1 per thousand subject to a minimum of Rs 500 and a maximum of Rs 1 lakh on CIF value. Importers can apply for registration not earlier than the 60th day before the expected date of arrival of the import consignment. The automatic registration number thus granted will remain valid for a period of 75 days.

SIMS requires importers to submit advance information in an online system for the import of items and obtain an automatic registration number. SIMS was launched in 2019 to provide advanced data about steel imports and ensure directed policy interventions.

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(Edited by : Vivek Dubey)