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Country of Origin Rules: CAROTAR- 2020
September 25 , 2020
1515 days
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- The Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR, 2020) came into force from 21st September 2020.
- It was notified on 21st August 2020.
- They set guidelines for enforcement of the ‘rules of origin’ for allowing preferential rate on imports under free trade agreements.
- The new Rules would also strengthen the hands of the Customs in checking any attempted misuse of the duty concessions under FTAs.
CAROTAR rules:
- An importer is now required to do due diligence before importing the goods to ensure that they meet the prescribed originating criteria.
- A list of minimum information which the importer is required to possess has also been provided in the rules along with general guidance.
- An importer would now have to enter certain origin related information in the Bill of Entry, as available in the Certificate of Origin.
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