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What Is an Import Monitoring System License?
The Import Monitoring System or IMS webportal is introduced by DGFT (Directorate General of Foreign Trade) in India to simplify the import regulations in the country. The primary goal of DGFT behind introducing the Import Management System incudes –
· Imposing restrictions on various import conditions in India
· Providing approval to facilitate the import of Steel, Coal, Aluminum, Chip related products under specific Harmonized System Codes
· Enabling importers to bypass necessary penalties with required IMS license
· Simplify Non-Ferrous Metal Import of specific goods
· Assure the process of Tracking Import Consignments without any issue
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Types of Import Monitoring SystemIssued by DGFT
The DGFT issues various types of Import Monitoring System License to regulate specific goods imported into the country. Most of those Certificates are issued to comply with Import Trade Policies by adhering to specific quality standard for protecting domestic industries.
The major types of IMS License provided by DGFT are shared below-
| Type of License Covered Under Import Monitoring System | Applicable HS Codes |
|---|---|
| CHIMS (Chip Import Monitoring System) | 85423100, 85423900, 85423200, 85429000, & 85423300 |
| Non-Ferrous Metal Import Monitoring System (NFMIMS) | Copper – Listed under Chapter 74 of ITC (HS)2017, applicable on 46 tariff items Aluminum – Listed within total of 43 tariff items |
| Steel Import Monitoring System | Iron and Steel Items – Listed under Chapters 72, 73, and 86 of ITC (HS) 2017 |
| Paper Import Monitoring System | 201 tariff lines Listed under wide range of Paper Products classified under Chapter 48 of ITC HS Code, 2022 |
| Coal Import Monitoring System | Anthracite Coal – 27011100 Bituminous Coal – 27011200 Coking Coal – 27011910 Steam Coal – 27011920 |
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Major Benefits Unlocked with Import Monitoring System License
· Easy to track Steel consignments as Steel, Paper, Aluminum, Coal, Chip Importer
· Reducing Paperwork to facilitate necessary Import Document submission with DSC (Digital Signature Certificate)
· Avoiding unnecessary delay in customs clearance
· Complying with IMS Standards to simplify Import of every product listed under applicable HS Codes
· Maximum accuracy in maintaining Import Data and Records effortlessly
· Bypassing applicable penalties for not complying with Import Monitoring System Regulations
Required Documents to Get IMS License
· Import Export Code (IEC) Certificate
· PAN Card
· Business Proof Address
· Bank Account Detail
· GST Registration Proof
· Digital Signature Certificate (DSC)
· Detail of Imported Goods
· Value of Imported Goods
· Country of Origin of Goods
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Why Choose ARKCA Corporate for Import Monitoring System License?
ARKCA Corporate Solutions own a team of professional consultants known for offering valuable consultation for securing your business with necessary Import Monitoring System License.
Our top-notch consultation services include-
· Errorless Documentation
· Assuring constant update on Import Regulations imposed by DGFT from time to time
· Simplify the complex process of obtaining the necessary IMS License for Importing Steel, Aluminum, Coal and Chip Items listed under their applicable HSN Code
