CBIC implements the guidelines of CAROTAR Act, 2020 from September 21, 2020

Sep 21, 2020 | by Avantis RegTech Legal Research Team


Finance & Taxation Compliance

The Central Board of Indirect Taxes and Customs (CBIC) has issued a press release for the implementation of the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR) from September 21, 2020.

A set of certain guidelines have been set out for the enforcement of the ‘rules of origin’ for allowing preferential rate on imports under free trade agreements which aim to supplement the operational certification procedures related to implementation of the Rules of Origin. CAROTAR, 2020 applies to import of goods into India where the importer makes a claim of preferential rate of duty in terms of a trade agreement.

According to the provisions of the Act, the importer must complete the due diligence before importing the goods so that they meet the specified criteria. Along with that the importer is required to submit the list of documents as specified in the rules and regulations. The information related to the origin of the goods is to be entered as well, which shall be specified in the Certificate of Origin.


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