Import of flat Rolled Products of Iron or steel – Restriction removed
VIDE Notification No. 63 dated 21.11.2008, import of the item “Hot Rolled Coils” under 4 digit ITC(HS) Code : 7208 has been restricted. Intention of the Notification, according to DGFT, was to restrict all items covered under Code No. 7208 at 4 digit level. This was clarified by DGFT, first on 30.01.2009 to an individual importer and then again on 18.02.2009 to a group of Importers and Customs. DGFT has clarified that the import clearance without a licence may be allowed for the item, Hot Rolled Products not in Coils covered under ITC(HS) Code 7208, which have been imported during the period 21.11.2008 (date of issue of Notification No. 63) to 18.2.2009 (date of issue of clarification). See - 30.04.2009
Now there is quite a lot of confusion in the field. Nobody knows what the restrictions are. Importers are made to execute bonds that they would produce the licences from DGFT within six months. It is known whether they will be able to fulfil the promise!
Anyway DGFT has now solved the problem by amending the Schedule – I (Imports) of the ITC (HS) Classifications of Export and Import Items and making the import policy for the items under 4 digit Exim Code “7208” to read as "Free" (instead of “Restricted “).
DGFT Notification 23/2009-2014, Dated : January 8, 2010