Board Says Follow MIP on Steel Strictly, Urges Action under Customs Act against Violators

[CBEC Instruction No. 10 dated 17^th February 2016]

Subject: - Minimum Import Price (MIP) on Iron and Steel under Chapter 72 of ITC (HS), 2012- Schedule-I (Import Policy): amendment in Import Policy Conditions.

Kind reference is invited to Notification No. 38/2015-2020 dated the 5th February, 2016 issued by Directorate General of Foreign Trade. The said Notification has amended the Import Policy Condition against 173 HS Codes under Chapter 72 of ITC (HS), 2012- Schedule-I (Import Policy) as per Annex to the notification and subject to conditions prescribed there under.

2. Keeping in view the above, the Board desires that aforementioned instructions are complied with strictly. Needless to say, suitable action may be initiated under Customs Act, 1962, against the importers violating the said provisions.

3. Difficulty faced in this regard, if any, may be brought to the notice of the Board.

F.No.450/15/2016-CUS-IV