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Core Purpose

Notification under Sections 3 and 5 of the Foreign Trade (Development & Regulation) Act, 1992, extending the import period for Yellow Peas under ITC(HS) Code 07131010.

Detailed Summary

The Ministry of Commerce and Industry (Department of Commerce, Directorate General of Foreign Trade), by S.O. 1633(E) (Notification No. 04/2023) dated 5th April 2024, exercising powers under Section 3 and Section 5 of the Foreign Trade (Development & Regulation) Act, 1992, read with paragraphs 1.02 and 2.01 of the Foreign Trade Policy (FTP) 2023, and in continuation of Notification No. 50/2023 dated 08.12.2023 and Notification No. 61/2023 dated 23.02.2024, amended the Import Policy Conditions for Yellow Peas under ITC(HS) Code 07131010 of Chapter 07 of ITC(HS), 2022, Schedule-I (Import Policy). The revised conditions provide that import of Yellow Peas is "Free," without MIP condition and without Port Restriction, for consignments where the Bill of Lading (Shipped on Board) is issued on or before 30th June 2024 (extended from the previous cut-off of 30th April 2024), subject to compulsory registration under the online Import Monitoring System; consignments with a Bill of Lading issued after 30th June 2024 become "Restricted," subject to the Import Policy Conditions existing prior to DGFT Notification No. 50/2023 dated 08.12.2023. The notification, issued with the approval of the Minister of Commerce & Industry under file number M-5012/300/2002/PC-2[A]/Part-VI/E-9019, was signed by Santosh Kumar Sarangi, Director General of Foreign Trade & Ex-officio Additional Secretary.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-06042024-253585 EXTRAORDINARY PART II—Section 3—Sub-section (ii) PUBLISHED BY AUTHORITY No. 1550] NEW DELHI, FRIDAY, APRIL 5, 2024/CHAITRA 16, 1946 MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (Directorate General of Foreign Trade) NOTIFICATION New Delhi, the 05th April, 2024 No. 04/2023 Subject: Extension in import period for Yellow Peas under ITC (HS) Code 07131010 of Chapter 07 of ITC (HS), 2022, Schedule -I (Import Policy). S.O. 1633(E).—In exercise of powers conferred by Section 3 and Section 5 of Foreign Trade (Development & Regulation) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy (FTP) 2023, as amended from time to time, and in continuation to Notification No. 50/2023 dated 08.12.2023 and No. 61/2023 dated 23.02.2024, the Central Government hereby amends Import Policy Conditions for Yellow Peas under ITC(HS) Code 07131010 of Chapter 07 of ITC(HS), 2022, Schedule –I (Import Policy) as under:- (Changes made are in bold letters) +-----------------------+-------------------------------------------------------------------------+-------------------------------------------------------------------------+ | ITC(HS) Code & Item | Existing Policy Condition | Revised Policy Condition | | Description | | | +=======================+=========================================================================+=========================================================================+ | 07131010-- | a) Import is 'Free' without the MIP condition and without Port | a) Import is 'Free' without the MIP condition and without Port | | Yellow Peas | Restriction, for Import consignments where Bill of Lading (Shipped on | Restriction, for Import consignments where Bill of Lading (Shipped on | | | Board) has been issued on or before 30th April 2024. | Board) has been issued on or before 30th June 2024. | |-----------------------+-------------------------------------------------------------------------+-------------------------------------------------------------------------+ | | b) Imports where Bill of Lading (Shipped on Board) is issued after | b) Imports where Bill of Lading (Shipped on Board) is issued after | | | 30thApril 2024 shall be 'Restricted' and associated Import Policy | 30th June 2024 shall be 'Restricted' and associated Import Policy | | | Conditions as existing prior to DGFT Notification 50/2023 dated | Conditions as existing prior to the DGFT Notification 50/2023 dated | | | 08.12.2023 shall come into force. | 08.12.2023 shall come into force. | |-----------------------+-------------------------------------------------------------------------+-------------------------------------------------------------------------+ | | c) All Import of Yellow Peas where Bill of Lading (Shipped on Board) | c) All imports of Yellow Peas where Bill of Lading (Shipped on Board) | | | is dated on or before 30th April 2024 shall be subject to compulsory | is dated on or before 30th June 2024 shall be subject to compulsory | | | registration under the Import Monitoring System. | registration under the online Import Monitoring System. | +-----------------------+-------------------------------------------------------------------------+-------------------------------------------------------------------------+ Effect of the Notification: Import of Yellow Peas under ITC(HS) Code 07131010 is "Free" without the MIP condition and without Port Restriction, subject to registration under online Import Monitoring System, with immediate effect for all import consignments where Bill of Lading (Shipped on Board) is issued on or before 30th June 2024. This is issued with the approval of the Minister of Commerce & Industry. [F. No. M-5012/300/2002/PC-2[A]/Part-VI/E-9019] SANTOSH KUMAR SARANGI, Director General of Foreign Trade & Ex- officio Addl. Secy.

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