FIEO welcomes retroactive introduction of GSP benefit
Updated: Aug 04, 2015 02:55:04pm
New Delhi, August 4 (KNN) The Federation of Indian Export Organisations (FIEO) welcomed retroactive introduction of generalised system of preference (GSP) benefit program which was expired on July 31, 2013. It has been renewed through December 31, 2017.
Welcoming the Federal Register communication which provides notice to importers that effective July 29, 2015, the US Customs and Border Protection (CBP) will again accept claims for GSP eligible merchandise that was entered during the period that the GSP program was lapsed, President, FIEO, SC Ralhan that it will benefit Indian exports.
It will increase competitiveness of Indian goods covered under GSP in US market and India will get duty advantage in respect of 3500 tariff lines, he said.
Effective July 29, 2015, the filing of GSP eligible entry may be resumed without the payment of estimated duties, and US authorities will initiate the automatic liquidation or re-liquidation of formal and informal entries of GSP eligible merchandise that was entered on or after August 1, 2013 through July 28, 2015. (KNN Bureau)
Welcoming the Federal Register communication which provides notice to importers that effective July 29, 2015, the US Customs and Border Protection (CBP) will again accept claims for GSP eligible merchandise that was entered during the period that the GSP program was lapsed, President, FIEO, SC Ralhan that it will benefit Indian exports.
It will increase competitiveness of Indian goods covered under GSP in US market and India will get duty advantage in respect of 3500 tariff lines, he said.
Effective July 29, 2015, the filing of GSP eligible entry may be resumed without the payment of estimated duties, and US authorities will initiate the automatic liquidation or re-liquidation of formal and informal entries of GSP eligible merchandise that was entered on or after August 1, 2013 through July 28, 2015. (KNN Bureau)
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