CHIMS registration in India
A significant update Important update Importers of India. The DGFT (Directorate-General for International Trade) has announced a new, mandatory CHIMS registration.
This registration applies to all importers in India importing various electrical products such as Integrated Circuits processors, etc. The government is planning to improve the structure of its internal organization and manufacturing operations of the electrical sector by the implementation of the CHIMS registration.
Therefore, the CHIMS Registration has become an essential registration requirement for exporters. In this article, we'll learn more regarding the CHIMS Registration in India.
What's CHIMS Registration?
CHIMS(Chip Import Monitoring System) Registration is a brand new import policy that requires the registration of importers. With this registration, rules based on 'free' criteria will be changed to 'free subject to registration.
The Import Policy terms for ITC (HS) 85423100 8,5423900 and 85423200. 85429000, 85423300 were modified as part of the CHIMS Registration.
The Import Registration became mandatory in May for the import of several electronic integrated circuits as part of the CHIMS. This significant change to import policy was made public by way of a notice.
The Chip Import Monitoring System registration requires the importers to provide details to an online system that covers various items prior to. After submitting the data the automated system creates an individual number for registration. number(CHIMS registration).
You may also know all about the new CHIMS Registration in India
Who needs CHIMS registration in India?
The registration of CHIMS for India is now required for all importers who import products with HSN Code:
85423100 (Electronic integrated circuits: --Processors, controllers regardless of whether they are coupled with memories, logic circuits, converters, amplifiers time and clock circuits as well as other circuits)
85423200 (Electronic integrated circuits memory)
85423300 (Electronic integrated circuits (Amplifiers:)
85423900 (Electronic integrated circuits: Other)
85429000 (Parts)
So, those who import these items will need to obtain CHIMS Registration and get a Unique Registration Number(URN) following receipt of an IEC code. Those who have Import Export Certificates and import these products will also need to make an IEC change.
What happens if you don't have CHIMS Registration?
If you don't have CHIMS Registration in India will not be able to receive a customs clearance of the consignment.
Additionally, failing to obtain CHIMS Registration within India or giving false information on application could result in punitive actions as well as action under the FTDR Act, 1992.
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