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Centre issues 'rules of origin' guidelines for imports under trade pacts
TIWN
TIWN
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New Delhi, Aug 23 (TIWN) The Union government has come up with guidelines for the enforcement of the 'rules of origin' for imports under trade agreements.
The Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR) will come into effect on September 21, 2020.
The Department of Revenue circular noted that the ‘Rules of Origin', by virtue of which a good attains origin of a country, have evolved with subsequent reviews of trade agreements and most trade agreements have moved from single general rule to specific rule for most of the tariff lines, with inclusion of vast array of processes which can confer origin.
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