News

Cbic Sets Framework For Import Of Goods From Bangladesh By Rail


NEW DELHI: The Central Committee on Indirect Taxes and Customs (CBIC) has set out rules allowing the import of goods in sealed containers by rail from Bangladesh in a move aimed at boosting trade between the two countries. family.

The railway is being opened for import upon request from Dhaka as well as from central ministries in the Indian government and merchants, by order of the tax authorities.

Currently, India exports goods by rail to the neighboring country and the new framework will help establish the logistics infrastructure to be able to import. The ministry said, quoting the Bangladesh High Commissioner to India, that the containers going from India to Bangladesh by rail are returning empty after delivery of Indian exports there and Bangladeshi companies have expressed interest in using such empty containers to export their products to India. order. In addition, the use of identical containers for imports will help reduce the logistics costs of India’s exports.

For imports to India, the carrier will be Indian Railways trains running between the two countries that cross the international border through land customs stations. The use of returned empty containers for the importation of goods into India will be applied to Container Corp units. of India are transported on trains operated by Indian Railways. The train’s movement will be monitored through the government’s electronic tracking system to various customs facilities in India.

Container Corp. of India must ensure that imported consignments are directed to the customs warehouse, according to the rules set forth by the tax authorities. The customs authorities of India and Bangladesh have been strengthening cooperation on bilateral trade.

At the recent trade ministerial discussion between the two countries in early March, the two sides discussed the development of railway infrastructure, port infrastructure, joint study on economic partnership agreement. comprehensive and regional connectivity through multimodal transport.

Registration Mint Newsletter

* Enter a valid email

* Thank you for subscribing to our newsletter.



Source link

news5s

News5s: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button