FTP - Exemption for steel imports from applicability of Steel and Steel Products (Quality Control) Second Order, 2012
GOVERNMENT has exempted import of steel and steel products from the applicability of Steel and Steel Products(Quality Control) Second Order, 2012 in relaxation of Para 2(A) of General Notes Regarding Import Policy, ITC(HS), 2012 Schedule 1 (Import Policy).
The exemption shall be available to projects in the Infrastructure, Petroleum, Manufacturing products involving high-end technologies, Nuclear Reactors, Defense, Chemical and petro-chemicals, and Fertilizer sectors subject to the following conditions:
i. The minimum investment in the project is not less than Rs.1000crore.
ii. The import will be allowed only to the Actual Users. Surplus, if any, cannot be disposed off in the domestic market without satisfying the quality standards as per Steel and Steel Products (Quality Control) Second Order, 2012 applicable for the domestic steel industry.
iii. Quality certification from the recognized Quality Certifying Body of the country of origin.
DGFT Notification No. 33 (RE-2013)/2009-2014, Dated: August 07 2013