Customs duties Current Affairs, GK & News
CAROTAR is Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020. It came into force in September, 2020. These rules are set of guidelines that enforce the “rules of origin” for the rate on imports under Free Trade Agreements. What are CAROTAR rules? Under these rules, an importer is required to do due ..
Category: Economy & Banking Current Affairs
The tariff dispute between USA and France has started affecting bilateral trade. Recently, USA threatened to impose a 100% tariff on French imports such as wine, cheese and handbags. The threat comes in light of the recently announced French digital tax or the GAFA tax. The GAFA tax levies a 3% taxation on tech giants ..
The Ministry of Commerce and Industries has launched a steel import monitoring system (SIMS) to provide advance information about steel imports. Steel Import Monitoring System The system has been developed by the Ministry of Commerce and Industries in consultation with the Ministry of Steel on the pattern of US Steel Import Monitoring and Analysis (SIMA) system. Importers ..
The Department of Revenue under the Ministry of Finance is conducting India’s first national Time Release Study (TRS) between 1st – 7th August to enable faster movement of cargo across borders to benefit traders. The exercise will be institutionalized on an annual basis, during the same period every year hereafter. The TRS is an internationally ..
For the first time the Ministry of Finance conducting national Time Release Study (TRS) as part of its strategic commitment for improving global trade. Time Release Study TRS is an internationally recognized tool advocated by World Customs Organization to measure the efficiency and effectiveness of international trade flows. The initiative on the ground is lead ..
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