Revenue dept advised to suspend pref gold imports from Thailand
Quotes

Revenue dept advised to suspend pref gold imports from Thailand

Last Updated: Thursday, March 21, 2013, 15:25
 
 Comment 0
 
Revenue dept advised to suspend pref gold imports from Thailand
New Delhi: The government has advised the Revenue Department to suspend preferential import of gold jewellery from Thailand, Parliament was informed on Thursday.

The suggestion by the government to suspend imports comes in the wake of doubts raised over the accuracy of information given on the Certificates of Origin issued by Thailand under the Early Harvest Scheme.

"Department of Revenue has been advised to suspend preferential import of gold jewellery with identified tariff lines from Thailand till the retroactive check is conducted by the Thai side," Minister of State for Commerce and Industry D Purandeshwari said in a written reply to the Rajya Sabha.

A request has been made to Thailand for retroactive check of Certificates of Origin, Purandeshwari said.

India and Thailand signed a Framework Agreement for establishing an India-Thailand Free Trade Agreement on October 9, 2003. There is an Early Harvest Scheme under this Framework Agreement which covers certain items for concessional trade including gold jewellery.

Thailand is also a part of ASEAN-India Agreement on Trade in Goods signed on August 13, 2009 where gold jewellery is included for concessional trade.

As per provisional data, imports of gold jewellery during April to December 2012-13 stood at USD 95.48 million, as against USD 109.79 million during the corresponding period of the previous year.

PTI



First Published: Thursday, March 21, 2013, 14:48


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved