Grant of relaxation of ILC with Regional Authorities with reference to Notification No. 38 dated 5th Feb. 2016

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..... o 1. IEC holders 2. Chambers of Trade and Industries 3. FIEO/ASSOCHAM/CII 4. All RA's of DGFT Vide Notification No. 38 dated 5th February, 2016 , Government has imposed Minimum Import Prices (MIP) on 173 tariff lines under Chapter 72 (Iron Steel). The same Notification also protects imports/shipments after 5th Feb, 2016, which are negotiated and finalised under I .....

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..... lised before the date of the Notification No 38 dated 5th February, 2016 and only on procedural matter of registering within 15 days from the date of Notification, the importers have defaulted, there exists a case of genuine hardship in terms of Para 2.58 of FTP (2015-20). Therefore, it recommended that an opportunity be given to importers who have finalized their ILCs before 5th February, 2 .....

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