The Directorate General of Foreign Trade (DGFT) created the Paper Import Monitoring System (PIMS) by modifying the import policy for significant paper products from "free" to "free subject to required registration under PIMS." The new regulation will go into force on October 1, 2022, according to the Ministry of Commerce and Industry. The online registration option, according to a statement from the ministry, will, however, start being offered from July 15, 2022. If you are preparing for competitive exams and looking for expert guidance, you can download our General Knowledge Free Ebook Download Now.
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Source: Safalta.com
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THE KEY POINTS
Any time a Domestic Territory Area unit imports paper goods, such as newspapers, handmade paper, coated paper, uncoated paper, offset and Litho paper, tissue paper, toilet paper, cartons, labels, and more, the PIMS must be used.
These goods are covered by 201 tariff lines. Paper items such as security printing paper, bank bond and check paper, and others are excluded from the registration requirement.
According to PIMS, in order to get an automatic registration number, an importer must pay a registration fee of Rs 500 no sooner than the 75th day and no later than the 5th day prior to the estimated date of arrival of the import consignment.
Several shipments Within the registration's validity period and for the permitted quantity, Bill of Entry (BoE) submissions are permitted under the same registration number. For 75 days, the automatic registration number is valid.
When importing the goods covered by the scheme, a Unit in a Special Economic Zone/Free Trading Warehousing Zone or an Export Oriented Unit must register under the PIMS.
These goods are covered by 201 tariff lines. Paper items such as security printing paper, bank bond and check paper, and others are excluded from the registration requirement.
According to PIMS, in order to get an automatic registration number, an importer must pay a registration fee of Rs 500 no sooner than the 75th day and no later than the 5th day prior to the estimated date of arrival of the import consignment.
Several shipments Within the registration's validity period and for the permitted quantity, Bill of Entry (BoE) submissions are permitted under the same registration number. For 75 days, the automatic registration number is valid.
When importing the goods covered by the scheme, a Unit in a Special Economic Zone/Free Trading Warehousing Zone or an Export Oriented Unit must register under the PIMS.
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