TaxTMI 
TaxTMI 
Steps to Stop Export of Fake Goods
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....teps to Stop Export of Fake Goods <br>News and Press Release<br>Dated:- 3-8-2016<br><BR>According to a study by OECD (Organisation Economic Cooperation and Development) and the European Union's Intellectual Property Office, titled "Trade in Counterfeit and pirated goods: Mapping the Economic Impact" (published in April, 2016), international trade in counterfeit and pirated products represents up t....
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....o 2.5% of world trade in 2013. A perusal of the Report shows that in terms of number of counterfeit shipments seized, India ranked 6th as an originating country of such shipments for the years 2011, 2012 and 2013 accounting, respectively, for 1.46%, 0.83% and 1.16% of the total number of shipments seized during these years. According to the OECD report, postal parcels are the most popular way of ....
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....shipping counterfeit and pirated product. Between 2011 and 2013, an average of almost 62% of seizures worldwide concerned postal shipments. According to the Central Board of Excise and Customs, with regard to exports of fake and counterfeit goods, the Customs Department is following all the procedures and directions issued by the Government in this regard. Field formations are advised from time t....
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....o time to maintain strict vigil and check/examine export consignments thoroughly in order to prevent such fake exports. Also, Directorate General of Foreign Trade (DGFT) has informed that with a view to check export of counterfeit drugs, it has notified the procedure for implementation of the Track and Trace system for export of pharmaceutical and drug consignments on 1st April, 2015. This infor....
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....mation was given by the Commerce and Industry Minister Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today.<BR> News - Press release - PIB....