CBIC issues Provisional Clearance of Goods under India’s Trade Agreement [Read Circular]

CBIC - India’s Trade Agreement - Imported Goods - Taxscan

The Central Board of Indirect Taxes and Customs (CBIC) issued a circular regarding provincial clearance of goods under India’s Trade Agreement (ITA).

The Board, on Monday referred to Circular 18/2020-Customs, dated April 11, 2020, which provides an option to clear goods under preferential tariff claim, in terms of section 18 of the Customs Act, 1962, where a Certificate of Origin (CoO) is not available at the time of filing customs documents.

“This measure has been taken, keeping in view the restrictions imposed globally, which may lead to a situation wherein an exporter is unable to communicate original CoO to the importer or submits a CoO which is not as per the prescribed format (digitally signed/unsigned),” the circular said.

The Board, issued necessary guidelines vide Circular 38/2016-Customs, dated August 22, 2016, prescribing the manner and amount of security based upon the class of importer and nature of import. The Circular covers Free Trade Agreements (FTAs) or Public Transportation Assistance (PTAs) imports under three categories at S.no 5(a), 5(b) and 5(c).

“It is informed that where the original hard copy of the Certificate of Origin (CoO) has not been submitted or only digitally signed copy or unsigned copy of CoO is submitted, the same may be treated at par with the category as listed at serial no. 5(c) of the Circular 38/2016-Customs, provided that the matter is not covered under 5(a), wherein there is a reasonable belief that it involves mis-declaration of origin/value addition,” the board observed.

To Read the full text of the Circular CLICK HERE