Date: 16/04/2024

Nepal seeks Customs agreement to curb border trade offences

Nepal has proposed a Customs agreement with India that will enable the exchange of information which could help in preventing and reducing Customs-related offences across the border, said Mr Ram Prasad Ghimire, Revenue Secretary of the Ministry of Finance of Nepal, in Birgunj. India hasn’t yet responded to the proposal but it is learnt that any proposal that will help in curbing offences across the border is likely to be considered and implemented as it works in favour of both nations. In December 2023, India exported $603 million worth of goods to Nepal and imported goods valued at $77.7 million from Nepal.  Currently, Nepal imposes a 50% penalty if a mismatch is noticed between the invoice bill and Customs records. As of now, for goods that Nepal imports from India, the checklists include an authority letter from a Customs agent, and a delivery order in case of inland clearance depots (ICD) at Biratnagar, Birgunj and Bhairahawa, as per a report.
source: Exim News Service: Kathmandu, April 15