The elimination or reduction of import duty is to cover 11,908 tariff items across the customs tariff over a ten-year period as prescribed in the CEPA.

NEW DELHI : Imported items like digital cameras, automatic beverage vending machines, certain types of photocopying apparatus and beer from malt are among the items that have been given import duty concessions under India’s trade pact with the UAE, PwC India said in an analysis citing an order issued by the Central Board of Indirect Taxes and Customs (CBIC).

CBIC issued orders to give effect to the comprehensive economic partnership agreement (CEPA) that came into force on 1 May outlining the tariff items on which duty concessions are granted. PwC India said that the deal covers approximately 90% of bilateral trade between the two countries.

The CEPA is expected to increase the bilateral trade volume from the current $60bn to $100bn over the next five years, PwC said.

The CBIC notifications give effect to the concessional customs duty benefit on trade of goods and outline the eligibility requirements in terms of rules of origin to claim the benefit under the CEPA.

The elimination or reduction of import duty is to cover 11,908 tariff items across the customs tariff over a ten-year period as prescribed in the CEPA.

The tariff items covered in the CBIC notification include ice-making machinery, certain printers and copying machines capable of being connected to an automatic data-processing machine, personal computers, automatic beverage vending machines incorporating refrigerating devices, digital cameras and refrigerated goods vehicles with spark ignition-internal combustion engines and gross vehicle weight less than 5 ton. Metal detectors, beer made from malt and scotch whisky in containers greater than 2 litres are also in the list.

“With the operationalisation of the CEPA, trade should consider the opportunities on the inbound and outbound sides for trade in goods, including the possibility of using the CEPA for further expansion or market access in the African and Middle Eastern regions," said PwC.

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