Trade Update 70

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DGS Associates
Contributor
Founded in 2004, DGS Associates is a multi-disciplinary boutique law firm situated in New Delhi, India. The key areas of practice for the firm are aviation; corporate & commercial; defence; inbound and outbound investments; international trade & bilateral investment treaties; mediation, arbitration & litigation; mergers & acquisitions and regulatory.
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...
India International Law
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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.

Trade Notice is available at:

https://content.dgft.gov.in/Website/dgftprod/bada6409-6334-4879-84db-01bde8c1fb33/Notification%2022%20dt%2020-07-22%20Eng.pdf

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.

Trade Notice is available at:

https://content.dgft.gov.in/Website/dgftprod/64d25da1-139e-4f55-8494-385362c159aa/Notification%2020%20dt%2007-07-22%20Eng-.pdf

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.

Trade Notice is available at:

https://content.dgft.gov.in/Website/dgftprod/cd112754-3da8-4385-8fbc-be8e594047a9/Notification%2019%20dt%2007-07-22%20Eng.pdf

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Trade Update 70

India International Law
Contributor
Founded in 2004, DGS Associates is a multi-disciplinary boutique law firm situated in New Delhi, India. The key areas of practice for the firm are aviation; corporate & commercial; defence; inbound and outbound investments; international trade & bilateral investment treaties; mediation, arbitration & litigation; mergers & acquisitions and regulatory.
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