Customs duty on import of 539 products from Singapore being lowered

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Customs duty on import of 539 products from Singapore being lowered

AIT News Network

NEW DELHI. Government of India and Singapore have on 20th December 2007 signed the Protocol amending the Comprehensive Economic Cooperation Agreement between the Republic of India and the Republic of Singapore signed in New Delhi on 29 June 2005 and have agreed accelerate the reduction and/or elimination of customs duties, pursuant to paragraph 2 of Article 2.3 of the Agreement.

The following modality shall apply to amend Annex 2A for the reduction/elimination of basic customs duties by India pursuant to Article 2.3 of the Agreement. The originating goods listed in the Lists under this Annex shall be deleted from the List of Products excluded from any concession in duties in Annex 2A.

List of Products for Phased Elimination in Duty

(i) On the originating goods of Singapore provided in List 1, the duties shall be removed in five stages beginning 15th January 2008 and such goods shall receive duty free entry into India from Singapore, effective 1st December 2011. The target tariff rates offered by India have been indicated in the List.

(ii) On the originating goods of Singapore provided in List 2, the duties shall be removed in nine stages beginning 15th January 2008 and such goods shall receive duty free entry into India from Singapore, effective 1st December 2015. The target tariff rates offered by India have been indicated in the List.

List of Products for Phased Reduction in Duty

(i) On the originating goods of Singapore provided in List 3, the duties shall be reduced in nine stages beginning 15th January 2008 till 1st December 2015 and such goods shall receive entry into India at concessional duties. The target tariff rates offered by India have been indicated in the List .

(Click here for list of products on which Customs duty is being lowered)

(Click here for Protocol dated 20th December 2007 amending CECA)

(Click here for Schedule of The Republic of India - Annex 2A Bis)