Latest News | Import of Papers Meant for Currency, Bank Cheque out of Govt's PIMS Monitoring Mechanism

New Delhi, May 26 (PTI) Import of paper products used in currency, bank cheque and security printing papers have been excluded from the compulsory registration mechanism PIMS, an official statement said on Thursday.

The commerce ministry on May 25 made import registration under PIMS (Paper Import Monitoring System) mandatory for inbound shipments of 201 types of paper and paper boards such as glazed newsprint, handmade paper and tissue paper.

Also Read | Chandrakant Patil, Maharashtra BJP Chief Tells Supriya Sule ‘Go Home and Cook’ Instead of Being in Politics.

The import policy for these 201 types of paper and paper boards has been amended from 'free' to 'free subject to compulsory registration under PIMS'.

All imports arriving on or after October 1, 2022 shall be governed by this policy.

Also Read | BMW i4 Electric Sedan Launched in India at Rs 69.90 Lakh.

"Paper products like currency paper, bank bond and cheque paper, security printing paper, have been excluded from this policy change," the ministry said.

It said that domestic paper industry has been raising issues of dumping of paper products in the country by way of under-invoicing, entry of prohibited goods by mis-declaration and re-routing goods through other countries.

A large proportion of paper products are imported under "others" category.

"The move will also go a long way in promoting make in India and Atmanirbhar Bharat in this category," it said, adding that a user-friendly interface has been created for the implementation of PIMS.

Importer will be able to obtain an automatic registration number online by paying a registration fee of Rs 500.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)