The import policy for key paper products has been changed from free to free with mandatory registration under the Paper Import Monitoring System. The DGFT issued a notification to this effect. Newsprint, handmade paper, wallpaper base, duplicating paper, coated paper, parchment paper, carbon paper, uncoated paper, Litho and offset paper, tissue paper, wall paper, envelops, toilet paper, cartons, account books, labels, bobbins, and other paper products are covered by this order. This policy will apply to all incoming imports.
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KEY POINTS:
- Currency paper, bank bond and cheque paper, security printing paper, and other paper goods are exempt from this policy change.
- Under-invoicing of paper products in the home market, entry of restricted items through mis-declaration, and re-routing goods through other nations in lieu of trade agreements have all been raised by the domestic paper industry.
- A substantial percentage of paper products are imported under the Others Tariff Lines category. In this category, the measure will also help promote Make in India and Atmanirbhar.
- For the installation of the Paper Import Monitoring System (PIMS), a user-friendly interface was built . By paying a registration cost of Rs. 500/-, any importer will be able to get an automated registration number online.
- The importer must apply for registration between the 75th and the 5th day before the projected arrival date of the import shipment. The automatic registration number issued in this manner is valid for 75 days.
- Within the validity period of registration for the permissible quantity, multiple Bills of Entries in the same registration number are permitted.
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