New Delhi, April 22 -- The government issued a formal definition for 'proof of origin' on Monday, aiming to enhance ease of doing business and prevent potential misuse of trade agreements.
According to a circular from the Department of Revenue, proof of origin refers to a certificate or declaration issued under a trade agreement that certifies goods meet specific country of origin criteria.
This documentation is necessary for importers seeking duty concessions under Free Trade Agreements (FTAs).
The certificate of origin serves as a crucial document for exports to countries with which India has established trade agreements. Exporters must submit this certificate at the importing country's landing port to claim duty concessions under FT...
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