SARAL SIMS:
The Ministry of Steel has introduced a simplified registration facility called ‘SARAL SIMS’ under the Steel Import Monitoring System (SIMS), effective from November 21.
- It is a new system designed to simplify the process of registration for imports of small consignments under the Steel Import Monitoring System (SIMS).
- It is designed to ease the procedural burden associated with importing small quantities and export-oriented shipments through frameworks like Advance Authorization, Special Economic Zones (SEZs), and Export-Oriented Units (EOUs).
- It will apply to steel and iron items falling under Chapters 72, 73, and 86 of the Indian Trade Classification (Harmonized System), 2022 classification system.
- Importers need to make a single annual declaration of their intended import quantity and receive a SARAL SIMS number for multiple consignments throughout the financial year.
- It eliminates the earlier requirement to generate a new SIMS number for every shipment.
- Importers must file an annual return by April 30 detailing actual imports made against SARAL SIMS registrations.
- The importer can avail the facility of SARAL SIMS for-
- SARAL SIMS for small imports: Allows consignments up to 10 tonnes with an annual cap of 500 tonnes for FY 2025-26, increasing to 1000 tonnes from FY 2026-27.
- SARAL SIMS for export purposes: Covers imports under Advance Authorization, SEZ, and EOU routes without any quantity limit.
