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Date: 25/03/2025

Customs rule changes could raise compliance costs for importers: GTRI

The amendments in the Customs rules to tighten checks on goods imported under free trade agreements (FTAs) could make it harder for businesses to bring in shipments at concessional duties and may increase compliance costs, according to economic think tank Global Trade Research Initiative (GTRI). However, it said the move would curb the misuse of FTAs as India has seen repeated instances where goods originating from non-FTA countries, such as China, were rerouted through FTA member countries like Vietnam or Singapore to exploit preferential duty benefits. On March 18, the Ministry of Finance issued a notification introducing amendments to the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR). The amendment replaces the term, Certificate of Origin (CoO), with a broader term, Proof of Origin, across various rules and forms under the CAROTAR framework, as per a report.
 
Source: Exim News Service: New Delhi, March 24



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