The Government of India, through Notification No. 35 (RE-98)/1997-2002 dated December 11, 1998, amended the Import Licensing Notes in Chapter 72 of the ITC(HS) Classifications of Export and Import Items, 1997-2002. The amendment allows the import of prime steel items without restrictions, except when the c.i.f. (Cost, Insurance, and Freight) value of the item is below the specified minimum threshold. The notification lists several steel items along with their respective minimum c.i.f. values per metric ton: H.R. Coils (TMQ) at $302, HR Sheets at $317, CR Coils at $392, Tinplates at $720, Electrical Sheets (CRNO) at $763, Plates at $409, and Alloy Steel Bars & Rods (Hot Rolled in Coils) at $740. This change is intended to regulate the import of steel products and ensure fair market practices, particularly for prime steel items.
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE
NOTIFICATION NO. 35 (RE-98) 1997-2002
NEW DELHI: 11TH DECEMBER, 1998
S.O (E) – In exercise of powers conferred under section 5 of the of Foreign Trade (Development and Regulation) Act, 1992 read with paragraph 1.3 and 4.1 of the Export and Import Policy, 1997-2002, the Central Government hereby makes the following amendment in the Policy, 1997-2002 (incorporating amendment made upto 13.4.98) and ITC(HS) Classification of Export and Import) item , 1997-2002 published on 31st March, 1997 and as amended from time to time, namely – In the Import Licensing Notes, appearing in Chapter 72 of the said ITC(HS) Classifications of Export and Import Items 1997-2002(HS) Classification, the following clause shall be inserted in the end:
“(4) Prime steel items specified below is permitted for imports Free except those in respect of which the c.i.f. value is below the value specified against each of these items:
| S.No. | ITC(HS) Code | Description | Minimum c.i.f. value (US $ per M.T.) |
| 1. | 72.08 | H.R. Coils (TMQ) | 302 |
| 2. | 72.08 | HR Sheets | 317 |
| 3. | 72.09 | CR Coils | 392 |
| 4. | 72.10 | Tinplates | 720 |
| 5. | 72.10 | Electrical Sheets (CRNO) | 763 |
| 6. | 72.11 | Plates | 409 |
| 7. | 72.27.90 | Alloy Steel Bars & Rods (Hot Rolled in Coils) | 740 |
This issues in public interest.
Sd:
(N.L.Lakhanpal)
Director General of Foreign Trade and ex-officio
Additional secretary to the Government of IndiaCopy to all concerned:
(N.P.S.Monga)
Jt. Director General of Foreign Trade
(File No. 01/93/214/00003/AM-99/M-445)
