 "cbic")
The Central Board of Indirect Taxes and Customs (CBIC) on Thursday clarified that electronically generated certificate of origin (CoO) issued by the UAE authority is a valid document for claiming customs duty benefits under India-UAE free trade agreement.
However, it said that the certificate has to be issued in a prescribed format bearing electronically printed seal and signatures of the authorised signatory of the issuing authority.
The trade agreement between India and the UAE came into force from May 1 this year. Under this, domestic exporters of over 6,000 goods from sectors like textiles, agriculture, dry fruits, gem and jewellery get duty-free access to the UAE market. On the other hand, India gives duty-free access to 7,694 goods coming from the UAE.
A trader has to submit a 'certificate of origin' at the landing port of the importing country to claim duty concessions under free-trade agreements. This certificate is essential to prove where their goods come from.
In a communication to its field formations, the CBIC said that representations have been received with regard to India-UAE trade deal stating that the importers are facing difficulties in availing preferential tariff benefit on the basis of e-CoO issued by the issuing authority of AUE.
Also Read
The agreement already has provisions for the same.
"In this regard, it is hereby clarified that an e-CoO, issued electronically by the issuing authority of UAE, is a valid document for the purpose of claiming preferential benefit under India-UAE CEPA (comprehensive economic partnership agreement)...," CBIC said.
It added that the specimen seals and signatures, circulated in advance, will continue to be used to verify the genuineness/authenticity of the e-certificate.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
