News– The Ministry of Steel launched the SARAL Steel Import Monitoring System (SIMS) portal for simplified import registration.
About SARAL SIMS
- Purpose & Coverage- SARAL SIMS streamlines SIMS registration for small steel imports and for exports-related procurement under Advance Authorisation, Special Economic Zone (SEZ), and Export Oriented Unit (EOU) schemes.
- Applicability- It covers iron and steel items under Chapters 72, 73, and 86 of the Indian Trade Classification (Harmonized System), 2022.
- Single Annual Declaration- Importers need to declare only the total intended annual import quantity once, after which a single SARAL SIMS number is issued and can be used for multiple consignments in that financial year.
- Small-Import Category Limit- Allows consignments up to 10 MT, with an annual cap of 500 MT for FY 2025–26 and 1,000 MT from FY 2026–27 onwards.
- No Limit for Export-Linked Imports- Imports for export production via SEZ, EOU, or Advance Authorisation routes carry no quantity restriction under SARAL SIMS.
- Validity, Compliance & Threshold Rule
- SARAL SIMS number remains valid till 30th April of the following fiscal year.
- Annual Return must be filed by 30th April, detailing actual imports.
- If imports exceed 1,000 MT in a year, the importer must shift to regular SIMS for the rest of that year and cannot revert to SARAL SIMS.
