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Trade Update 70
A. Amendment of import policy conditions for item under ITC(HS) Code 05119999 of Chapter 05 of ITC (HS), 2022, Schedule —I
The Central Government vide Notification No.22/2015-2020-DGFT dated July 20, 2022, has amended the import policy conditions regarding imports of Human Embryo under ITC (HS) 05119999. It is “Prohibited” in accordance with the Assisted Reproductive Technology (Regulation) Act, 2021 and The Surrogacy (Regulation) Act, 2021.
B. Syncing of ITC (HS), 2022- Schedule-1 (Import Policy) with the Finance Act, 2022 (No. 6 of 2022) dated 30.03.2022
The Central Government vide Notification No. 20/2015-20 dated July 07, 2022, amended ITC(HS) 2022, Schedule-I (Import Policy)’ in sync with the Finance Act, 2022 dated 30th March 2022. The ITC(HS) codes introduced/deleted/amended/split/merged as per the Finance Act, 2022 as well as the modifications/amendments in the Section Notes, Chapter-wise Main Notes, Supplementary Notes, Chapter heading, sub-headings and description of ITC(HS) codes as per the Finance Act, 2022.
C. Amendment in registration time period of Steel Import Monitoring System (SIMS)
The Central Government vide Notification No. 19/2015-20 dated July 07, 2022, has abolished the requirement of advance registration of minimum 15 days from the expected date of arrival of import consignment under SIMS.