Google News
logo
July to September Current Affairs - 2020
‘Rules of origin’, that was seen in news recently, is associated with which Ministry?
A)
Ministry of MSME
B)
Ministry of Commerce
C)
Ministry of Finance
D)
Ministry of Agriculture

Correct Answer :   Ministry of Finance


The Department of Revenue, Ministry of Finance has notified the ‘Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020’.
The norms for enforcing the ‘rules of origin’ provisions has been released by the Government recently. These rules will come into effect from September 21, 2020 and will apply where preferential rate of duty is claimed by importer. The ”Rules of origin” provision mandates minimal processing in the FTA country.

Published On : July 18, 2021
Advertisement