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of <h1>India's Ministry of Finance Issues New Guidelines for Importers on Certificates of Origin and Preferential Tariffs.</h1> The circular from the Government of India's Ministry of Finance provides instructions for submitting Certificates of Origin under various Preferential Trade Agreements. A new section in the Customs Act, 1962, mandates obligations for importers and outlines procedures for verification from exporting countries. If verification is pending, preferential tariffs are suspended, requiring security equal to the differential duty. Importers must comply with the Rules of Origin as per Notification No.29/2015-Customs, and non-compliance will result in ineligibility for duty benefits. Stakeholders must adhere to these guidelines to avoid legal action under the Customs Act, 1962.
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