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Certificates Of Origin
Recently the Ministry of Commerce & Industry launched a common digital platform for the issuance of electronic Certificates of Origin (CoO).Consider the following statements about CoO:
- Certificate of Origin is an instrument which establishes evidence on origin of goods imported into any country.
- There are two categories of Certificate of Origin, preferential and non-preferential.
Choose the correct answer from the codes given below:
A |
Only 1
|
|
B |
Only 2
|
|
C |
Both 1 and 2
|
|
D |
Neither 1 nor
|
Your Ans is
Right ans is C
Your Answer Is Correct
Your Answer Is Wrong
Explanation :
- Certificate of Origin is an instrument which establishes evidence on origin of goods imported into any country. These certificates are essential for exporters to prove where their goods come from and therefore stake their claim to whatever benefits goods of Indian origin may be eligible for in the country of exports.
- There are two categories of CoO- Preferential and Non-preferential.
Preferential CoO
- Rules of origin are the criteria needed to determine the national source of a product. Their importance is derived from the fact that duties and restrictions in several cases depend upon the source of imports. The arrangement/scheme under which India is receiving tariff preferences for its exports are:
- Generalised System of Preferences (GSP)
- Global System of Trade Preferences (GSTP)
- SAARC Preferential Trading Agreement (SAPTA)
- Asia-Pacific Trade Agreement (APTA)
- India-SriLanka Free Trade Agreement (ISLFTA)
- Indo-Thailand Free Trade Agreement
- India-Malaysia Comprehensive Economic Cooperation Agreement (IMCECA)
- India-Korea Comprehensive Economic Partnership Agreement (CEPA)
- India-Japan Comprehensive Economic Partnership Agreement (IJCEPA)
- ASEAN-India Free Trade Agreement
Non Preferential CoO
- Non-preferential Rules of Origin are the instruments used to determine the “nationality” of a good when entering a country. The country of import is then entitled to request a certificate of origin to prove the non-preferential origin of the good imported. Exporters desiring Non preferential CoO may apply with following documents:
- Details of quantum/origin of inputs/consumables used in export product.
- Two copies of Invoices
- Packing List in duplicate for concerned invoice
- Fee not exceeding Rs.100 per certificate as may be prescribed by concerned agency.
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