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of <h1>Ministry launches duty-free import scheme for iron steel intermediates supporting engineering exporters</h1> The Ministry of Commerce notified the Engineering Products Export (Replenishment of Iron and Steel Intermediates) Scheme allowing duty-free import of inputs for iron and steel producers to manufacture intermediates for engineering exporters. Customs issued instructions for implementing Value Based Advance Intermediate Licences under this scheme. Key requirements include: importers must execute bonds with licensing and customs authorities, inputs are subject to actual user conditions and non-transferability, specific ports may be used for imports, release advice from licensing authority is mandatory for supply obligations, and engineering exporters cannot avail certain drawback benefits. Custom houses must maintain separate records and registers for monitoring compliance and duty foregone under the scheme.
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