Times of India
AsiaPac · 34 mins ago
India notifies rules for UK FTA vehicle import benefits ahead of July 15 rollout
India notifies rules for UK FTA vehicle import (representational image)India has notified the procedure for importers to claim quota-based tariff concessions on vehicle imports from the United Kingdom under the India-UK Comprehensive Economic and Trade Agreement (CETA), which comes into effect on July 15.Under the agreement, customs duties on eligible UK vehicle imports will be significantly reduced from about 110 per cent to 10 per cent, subject to annual tariff-rate quotas (TRQs).Who can apply and what are the conditions?The Directorate General of Foreign Trade (DGFT) said only Original Equipment Manufacturers (OEMs) and their authorised dealers or channel partners will be eligible to apply for tariff-rate quotas.To avail the concessional duty, importers must:Produce a Certificate of Ori
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