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Trade Update 27

Foreign Trade Update

A. Ceiling/Cap on MEIS benefits available to exporters on exports made from 1.9.2020 to 31.12.2020
The Directorate General of Foreign Trade, vide Notification No. 30/2015-20 dated September 1, 2020 has directed that total rewards to be granted to an IEC holder under the MEIS scheme cannot exceed the cap of Rs. 2 Crore per IEC Holder towards the exports made during the period of September 1, 2020 to December 31, 2020 (based on the Let Export Order date (LEO) of the shipping bills). Further, any IEC holder who has not made any export with LEO during the period of September 1, 2019 to August 31, 2020 or any new IEC obtained on or after September 01, 2020 would not be eligible to submit any claim under the MEIS scheme towards exports made from September 01, 2020. Furthermore, the notification states that MEIS Benefits shall not be available for exports made from January 01, 2021.

Notification is available at:

B. Insertion of policy condition in chapter 85 and 94 of ITC (HS), 2017, Schedule I(Import Policy)
The DGFT has enabled random sampling of LED products and Control Gear for LED products notified under “Electronics and Information Technology Goods (Requirement of Compulsory Registration) Order, 2012, vide a new policy condition in Chapter 85 and 94 of ITC(HS), 2017, Schedule-I (Import Policy), inserted by Notification No. 32/2015-20 dated September 17, 2020 .

Notification is available at:

C. Insertion of policy condition regarding import under all HS codes in chapter 72, 73 and 86 of ITC (HS), 2017 to require compulsory registration under Steel Import
Monitoring System (SIMS). The Directorate General of Foreign Trade vide Notification No. 33/2015-20 dated September 28, 2020 has inserted a new policy condition that requires all imports under the HS codes in chapters 72, 73 and 86 of ITC (HS), 2017 to require compulsory registration under the Steel Import Monitoring System. As per Public Notice No. 19/2015-20 dated September 28, 2020, Bills of entry on or after October 16, 2020 will require compulsory registration under SIMS.

The Notification and the Public Notice are available at: