New Delhi, March 24 -- Amendments to customs rules aimed at tightening checks on goods imported under free trade agreements (FTAs) could make it more difficult for businesses to utilise concessional duties and may increase compliance costs, according to economic think tank Global Trade Research Initiative (GTRI) on Sunday.
The changes would, however, help curb the misuse of FTAs. India has experienced repeated instances where goods originating from non-FTA countries, such as China, have been rerouted through FTA member countries like Vietnam or Singapore to take advantage of preferential duty benefits, GTRI noted.
On March 18, the Ministry of Finance issued a notification introducing amendments to the Customs (Administration of Rules of...
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