Market Price: ₹741
World Rision Price: ₹621
SIMS Registration is mandatory for steel importers in India, ensuring transparency, smooth customs clearance, and compliance with DGFT rules through prior online registration before steel product imports.
Market Price: ₹741
World Rision Price: ₹621
SIMS Registration is mandatory for steel importers in India, ensuring transparency, smooth customs clearance, and compliance with DGFT rules through prior online registration before steel product imports.
Structure:
Title: Steel Import Monitoring System (SIMS) Registration
Introduction: Overview and purpose of SIMS
Issuing Authority: DGFT, Ministry of Commerce and Industry
Applicability: Importers of specified steel products
Registration Process: DGFT portal, required details, validity (75 days)
Benefits: Transparency, customs clearance, trade regulation, industry protection
Compliance Requirements: Quoting SIMS number in Bill of Entry
Conclusion: Importance of SIMS for importers and policy-making
Short Description: 30-word overview
pdf details here...
Steel Import Monitoring System (SIMS) Registration
Steel Import Monitoring System (SIMS) Registration is a mandatory compliance introduced by the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry. It requires importers to obtain prior registration before importing specified steel products into India. The system was implemented to monitor steel imports, ensure transparency, and provide accurate data for policy-making.
Under SIMS, importers must apply for registration online through the DGFT’s SIMS portal before placing import orders. The application requires details such as the Importer Exporter Code (IEC), product HS code, description, quantity, value, country of origin, and port of import. Once the application is submitted along with the prescribed fee, DGFT issues a unique SIMS Registration Number. This number is valid for 75 days and must be mentioned in the Bill of Entry at the time of customs clearance.
SIMS Registration is compulsory for importers dealing in specific categories of steel and steel products listed under the DGFT notification. Without it, customs clearance for such imports will not be granted.
The key benefits of SIMS include better regulation of steel imports, availability of real-time data for policymakers, prevention of unfair trade practices, and support for the domestic steel industry. Importers benefit by gaining legal clearance for smooth imports and avoiding penalties or shipment delays.
In conclusion, SIMS Registration is essential for importers of steel products in India to ensure compliance with DGFT regulations and contribute to a transparent and well-regulated steel trade environment.