SIMS Registration in India
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SIMS Registration in India - Strengthening Steel Import Monitoring
India has made significant progress in international trade and commerce, emerging as a major player in the global steel industry. With an ever-growing demand for steel products, ensuring the smooth functioning of steel imports becomes paramount.
To achieve this, the Indian government has introduced the Steel Import Monitoring System (SIMS). SIMS is a web-based platform that allows importers to register and track their steel imports. It also provides information on steel prices and other market data. SIMS is designed to help the government regulate the steel import market and protect domestic steel producers from unfair competition. It also helps to ensure that only high-quality steel is imported into the country.
What is SIMS Registration?
SIMS stands for Steel Import Monitoring System. It is a digital platform launched by the Indian Ministry of Commerce and Industry to monitor and regulate the import of steel products into India effectively. SIMS requires importers to register their steel import-related information in an online database before shipping the products to India.
This information includes the name of the importer, the country of origin of the steel, the quantity of steel being imported, and the port of entry. SIMS is designed to help the Indian government track the import of steel products and to ensure that only quality steel products are imported into the country. It is also designed to help the government protect the domestic steel industry from unfair competition from imported steel products.
Eligibility For SIMS Registration
Businesses that indulge in importing steel goods classified under chapter 72, 73 and 86 of ITC (HS) 2017 Schedule-1 are required to have SIMS registration.
Documents required for SIMS Registration
These are the important documents that required to get SIMS Registration
- Basic details and documents of applicants
- Proof of Business
- Digital Signature Certificate (e-Token)
- Import Export Code
- RCMCs (Registration Cum Membership Certificate)
What is the Fee for SIMS Registration
The Fee for SIMS Registration is ₹500 as directed by the Director general of foreign trade (DGFT).
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