Home / Knowledge / News / Textiles / New CoO terms cause row among business groups
New CoO terms cause row among business groups
18
Jan '11
The new terms proposed by the government for the Certificate of Origin (CoO) which specifies the country of origin of the goods, has stirred up disagreement among the business community.

The government recently proposed to make it voluntary for the exporters to obtain CoO for items exported to the Europe and the US under the Generalized System of Preferences (GSP), and also levy flat charges on CoO for exportable items.

The new provisions propose that, the government would act as the sole authority for permitting issuance of CoO to trade bodies.

Thus, the authorities which were previously in charge of issuance of the CoO are protesting this provision as it is likely to cut back their income.

Presently, the exporters pay 12 paisa as CoO charge on export of goods worth Rs 100. The concerned commodity organizations get two paisa and the bi-lateral chamber of commerce gets one paisa, out of the 12 paisa.

However, exporters have appreciated and are pleased with this move of voluntary provision for CoO taken by the government, as majority of the importing nations have dropped the formality of demanding the CoO.

Fibre2fashion News Desk - India


Must ReadView All

FPCCI prepares report on Pakistan’s export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan’s export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Courtesy: Detego

Apparel/Garments | On 26th May 2018

Retailers adopting IoT strategies to monitor goods: Report

Retailers are adopting popular IoT strategies to more accurately...

European cities attracted 43% new brands in 2016: Report

Apparel/Garments | On 26th May 2018

European cities attracted 43% new brands in 2016: Report

European cities are the preferred new destination for international...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search