Oman FTA benefits kick in from today

NEW DELHI: The finance ministry on Sunday issued notification on duty concessions on Omani goods under trade pact with India, which will come into effect from June 1.

The India-Oman Comprehensive Economic Partnership Agreement (CEPA) was signed in Dec last year. "Provided that the (duty) exemption shall be available only if the importer proves to the satisfaction of the deputy commissioner of customs or assistant commissioner of customs, as the case may be, that the goods in respect of which the benefit of this exemption is claimed are of the origin of the Sultanate of Oman," the finance ministry notification said.

India is offering duty concessions on 77.8% of its total tariff lines (12,556), which covers 94.8% of India's imports from Oman by value. Agencies
Ready to Make a Smarter Property Decision? Build Your Legacy with TOI Homes.