Import of Menthol through specific ITC (HS) codes under DFIA/Advance Authorisation

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Import of Menthol through specific ITC (HS) codes under DFIA/Advance Authorisation

Public Notice No. 48/2023

Dated- 7th March 2024

The Ministry of Commerce & Industry, Government of India, through Public Notice No. 48/2023 dated March 7th, 2024, issued by the Directorate General of Foreign Trade (DGFT), has addressed the import of Menthol under specific ITC(HS) codes. This analysis explores the recent amendments and their implications on import regulations.

Analysis

Following are the key notes regarding the Public Notice No. 48/2023.

Regulatory Adjustments: The Public Notice has temporarily suspended the inclusion of Menthol categorised under ITC(HS) codes 29061100, 30039021, 33012590, and 33012400 from Standard Input Output Norms (SION) and/or Adhoc Norms. This immediate suspension impacts the issuance of Advance Authorisation and/or DFIA until a comprehensive review is conducted.
Impact on Importers: Importers dealing with Menthol falling under the specified ITC(HS) codes must comply with the revised regulations. They are ineligible to acquire Advance Authorisation and/or DFIA until the norm review process concludes. Such changes could disrupt import operations, necessitating the formulation of alternative sourcing strategies.
Policy Ramifications: The suspension hints at a potential reassessment of regulatory frameworks governing Menthol imports. This adjustment might stem from evolving market dynamics, compliance requirements, or strategic trade considerations. Importers and stakeholders are advised to closely monitor subsequent developments.
Compliance and Communication: Importers must ensure adherence to the amended regulations to avoid penalties or trade disruptions. Additionally, maintaining open communication channels with relevant authorities, including DGFT, can offer clarity on compliance protocols and updates regarding the norm review.

Conclusion

Public Notice No. 48/2023 issued by DGFT marks a notable regulatory shift in Menthol imports under specific ITC(HS) codes. Importers must promptly adjust to the suspended norms and await further directives from regulatory bodies. Staying informed about evolving trade policies is crucial for effectively navigating the dynamic import landscape.

To access the Public Notice, click here.

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