An important update for Importers in India. The DGFT (Directorate General of Foreign Trade) has launched a new mandatory CHIMS registration. This registration applies to all the importers in India importing several electrical goods such as Integrated Circuits, processors, etc. The Government is planning to improve the internal structure as well as manufacturing business of the electrical industry through implementing CHIMS Registration. Thus, the CHIMS Registration is now an important registration for importers. In this article, we will know all about the CHIMS Registration in India.
What is CHIMS Registration?
CHIMS(Chip Import Monitoring System) Registration is a new import policy and mandatory registration for importers. Under this registration, policies under ‘free’ criteria get conversion into ‘free subject to compulsory registration.
The Import Policy conditions of ITC (HS) 85423100, 85423900, 85423200, 85429000, 85423300 have been changed under CHIMS Registration.
It is made mandatory from May for importing multiple electronic integrated circuits under CHIMS. This important change in import policy was launched through a notification.
Thus, Chip Import Monitoring System Registration requires importers to submit information to an online system for a variety of products in advance. After submitting the information, the automatic system generates a unique registration number(CHIMS Registration).
Who requires CHIMS Registration in India?
CHIMS Registration in India is now mandatory for all the importers importing products under HSN Code:
- 85423100 (Electronic integrated circuits: –Processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits)
- 85423200 (Electronic integrated circuits: –Memories)
- 85423300 (Electronic integrated circuits: –Amplifiers)
- 85423900 (Electronic integrated circuits: — Other)
- 85429000 (Parts)
Thus, the importers of these products will now need to have CHIMS Registration and obtain a Unique Registration Number(URN) after receiving IEC Code. Those having Import Export Code and importing above mentioned products may also need to do IEC modification.
What if you don’t have CHIMS Registration?
Those who don’t have CHIMS Registration will be unable to get customs clearance of the consignment.
Furthermore, not obtaining CHIMS Registration in India or providing false information in the application will attract punitive action including action under FTDR Act, 1992.
When should you obtain CHIMS Registration in India?
The Online Chip Import Monitoring System (CHIMS) is available 24 hours a day, seven days a week. However, in the interests of trade/importers, experts recommend registrations far ahead of time to minimize interruptions in the firm’s commercial operations.
So, The importer must apply for registration at least 60 days prior to the scheduled arrival date of the import consignment. The registration may be completed on the same day as the importation.
Document Requirement for CHIMS Registration
You need to submit the following to successfully obtain Chip Import Monitoring Registration in India.
- Import Export Code
- Email and Mobile Number same as in IEC Database
- Bank Account Details
- Address Proof etc.
For understanding the Complete Document Requirement for CHIMS Registration in India, you can contact our business advisors at – 8881-069-069.
Government Fee for Chip Import Monitoring Registration in India
For each CHIMS registration number, a registration cost of Rs 1 per 1,000 on the aggregate CIF (Cost, Insurance, and Freight) value of imports must be paid electronically only on the Government’s digital platform as a government fee, with a lower limit of Rs 100 and a maximum limit of Rs 500.
How to obtain Chip Import Monitoring Registration in India (How E-startup India can help in obtaining CHIMS Registration)
We have a top-notch professional team providing a hassle-free and error-free Online CHIMS Registration Service in India. Our experts have been completing 1000+ IEC Code, AD Code Registration, and several other import-export services successfully. Our expert team stays up to date with DGFT’s new registration procedures every day since 2014. So, we render you the best Chip Import Monitoring (CHIMS) Registration that is DGFT compliant. Chartered Accountants, Lawyers, and Company Secretaries make up our diverse teams of specialists. Thus, all you need to obtain CHIMS Registration in India is:
- Firstly, Provide the required business details and documents to our web portal.
- Choose a package and pay online with different payment modes available
- On placing an order, your application will be assigned to one of our dedicated professionals.
- Our professional shall prepare the documents and file the CHIMS registration application form.
- You will get regular updates as our professional shall make regular follow up with the DGFT.
- After successful verification, we will share your CHIMS Registration number by email.
Moreover, If you want any other guidance relating to CHIMS Registration, please feel free to talk to our business advisors at 8881-069-069.
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