The Directorate General of Foreign Trade (DGFT) has issued a trade notice seeking comments on the proposed suspension of 544 Standard Input Output Norms (SIONs). These norms have remained unutilized over the last three financial years. The DGFT is gathering feedback to decide on the potential suspension of these norms.
SIONs are critical for exporters to claim duty exemptions on imported inputs used in manufacturing export products. The suspension of these norms could affect the cost structure and compliance requirements for businesses relying on these exemptions. It is crucial for exporters to verify if their products or processes are covered by these norms to avoid disruptions.
1) Open the official notice
2) Check whether your CTH, documents or policy line is touched
3) Ask Neo's CHA before changing Bill of Entry or Shipping Bill practice