Business Standard

Customs to raise vigil on electronic items from FTA countries from 21 Sept

Finance ministry sources said misuse of the FTA route has been on the rise for the last few years to escape customs duty on imports

trade, export, container, import, shipping, sea, business, seafarer, merchan navy
Premium

While India’s exports to FTA partner countries remain almost flat under major FTAs, imports have risen rapidly, widening the trade deficit

Indivjal Dhasmana New Delhi
Starting September 21, the Customs department will raise its vigil on imports of mobiles, white goods, set top boxes, cameras and other electronic products, besides agarbattis from countries with which India has free trade agreements (FTA).
 
A new provision was introduced during the budget session in February this year in the Customs Act for strict verification of rules of origin of imports under FTAs. The rules for implementation of this provision were issued last month. These newly notified Customs Rules for Administration of Rules of Origin under FTA will come into force on September 21.
 
It is learnt that extensive

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in