Introduction: The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, Government of India, issued Public Notice No. 48/2023, dated 07th March 2024, concerning the import of Menthol covered under specific ITC(HS) codes. This article delves into the amendments made and their implications on import regulations.
Detailed Analysis:
1. Regulatory Amendments: The Public Notice suspends the inclusion of Menthol under ITC(HS) codes 29061100, 30039021, 33012590, and 33012400 from Standard Input Output Norms and/or Adhoc Norms. This suspension is immediate and affects the issuance of Advance Authorisation and/or DFIA until a review is conducted.
2. Impact on Importers: Importers dealing with Menthol under the mentioned ITC(HS) codes need to adhere to the new regulations. They cannot obtain Advance Authorisation and/or DFIA until the review of norms is completed. This could potentially disrupt import operations and require alternative sourcing strategies.
3. Policy Implications: The suspension indicates a potential reassessment of regulatory frameworks concerning the import of Menthol. It may stem from evolving market dynamics, regulatory compliance, or strategic trade considerations. Importers and stakeholders must monitor further developments closely.
4. Compliance and Communication: It is imperative for importers to stay compliant with the amended regulations to avoid penalties or disruptions in trade activities. Additionally, maintaining communication with relevant authorities, such as DGFT, can provide clarity on compliance procedures and updates on the review process.
Conclusion: The DGFT’s Public Notice No. 48/2023 signifies a significant regulatory adjustment in the import of Menthol under specific ITC(HS) codes. Importers must promptly adapt to the suspended norms and await further directives from the regulatory authorities. Keeping abreast of developments in trade policies is crucial for navigating the evolving import landscape effectively.
Government of India
Ministry of Commerce & Industry
Department of Commerce
Directorate General of Foreign Trade
Vanijya Bhawan
Public Notice No. 48/2023-DGFT | Dated: 07th March 2024
Subject: Import of Menthol covered under ITC(HS) codes: 29061100, 30039021, 33012590 and 33012400 under Advance Authorisation/DFIA — reg
S.O. (E): In exercise of powers conferred under paragraph 1.03 and 2.04 of the Foreign Trade Policy (FTP), 2023, the Director General of Foreign Trade hereby makes the following amendments to Handbook of Procedures (HBP) and Standard Input-Output Norms (SION) with immediate effect.
2. The input Menthol covered under ITC(HS) codes 29061100, 30039021, 33012590 and 33012400 stands suspended from Standard Input Output Norms and/or Adhoc Norms, wherever it appears in any SION and/or adhoc norms, pending review of such SION and/or Adhoc Norms.
3. Till such review is undertaken, no Advance Authorisation and/or DFIA shall be issued for Menthol covered under ITC(HS) codes 29061100, 30039021, 33012590 and 33012400.
Effect of this Public Notice:
Menthol covered under ITC(HS) codes 29061100, 30039021, 33012590 and 33012400 stands suspended from SION/Adhoc norms with immediate effect.
(Santosh Kumar Sarangi)
Director General of Foreign Trade &
Ex- officio Addl. Secretary to the Government of India
Email: dgft@nic.in
[Issued from File No. 01/89/180/Misc-3/AM-04/PC-2[A] / Vol.-III / E-141]
