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of <h1>Amendment to ITC (HS) 1997-2002: New Import Policy Chapter Introduces Special Import Licence Requirements and Exemptions</h1> A new chapter titled '1 A: General notes regarding import policy' has been added to the ITC (HS) Classifications of Export and Import Items, 1997-2002. This amendment specifies that certain items can be imported freely, while others require a Special Import Licence (SIL). Import under SIL requires surrendering a SIL equivalent to five times the c.i.f. value of imports, except where otherwise specified. Exemptions apply to imports by UN officials, professionals returning to India, and charitable organizations, among others. These imports should not involve foreign exchange remittances and must comply with existing laws.
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