Correct
Solution (b)
The Centre has suspended till January 31 a mandatory obligation imposed on exporters from November 1 to obtain online Certificates of Origin (CoO) for every outbound consignment
A Certificate of Origin (COO) is a document commonly used in international trade. It establishes the country of origin of the product, which is particularly important for an exporter claiming import duty benefits against the product(s). It is often in the form of a statement attached to the commercial invoice, or a separate declaration, which gives a line item-wise list of the origin of all products.
A COO is signed by the exporter (or an authorized representative) and certified to be true and correct.
There are two categories of COO: preferential and non-preferential.
Under the preferential scheme, a COO is issued in case of exports for which India receives tariff preferences
A non-preferential COO certifies the origin of the goods but does not grant any preferential tariff rights to the exporter. The Indian government has nominated agencies across the country to issue COO as per Article II of the International Convention Relating to Simplification of Customs Formalities, 1923.
All-India organizations authorized to issue COO are DGFT (Directorate General of Foreign Trade) and its regional offices, the Textile Committee and its offices, FIEO and its branches, CII and its branches, and the PHD Chamber of Commerce and Industry. Apart from these, certain state-wise agencies have also been authorized to issue non-preferential COOs.
Self-certification of Origin
The DGFT also allows self-certification of origin by exporters. To be able to do so, the exporter must be recognized by the DGFT under the Approved Exporter System for Self-certification of Origin.
Article Link:
https://www.thehindu.com/business/markets/centre-allows-exporters-time-till-jan-31-on-origin-e-certificate/article37634200.ece
Incorrect
Solution (b)
The Centre has suspended till January 31 a mandatory obligation imposed on exporters from November 1 to obtain online Certificates of Origin (CoO) for every outbound consignment
A Certificate of Origin (COO) is a document commonly used in international trade. It establishes the country of origin of the product, which is particularly important for an exporter claiming import duty benefits against the product(s). It is often in the form of a statement attached to the commercial invoice, or a separate declaration, which gives a line item-wise list of the origin of all products.
A COO is signed by the exporter (or an authorized representative) and certified to be true and correct.
There are two categories of COO: preferential and non-preferential.
Under the preferential scheme, a COO is issued in case of exports for which India receives tariff preferences
A non-preferential COO certifies the origin of the goods but does not grant any preferential tariff rights to the exporter. The Indian government has nominated agencies across the country to issue COO as per Article II of the International Convention Relating to Simplification of Customs Formalities, 1923.
All-India organizations authorized to issue COO are DGFT (Directorate General of Foreign Trade) and its regional offices, the Textile Committee and its offices, FIEO and its branches, CII and its branches, and the PHD Chamber of Commerce and Industry. Apart from these, certain state-wise agencies have also been authorized to issue non-preferential COOs.
Self-certification of Origin
The DGFT also allows self-certification of origin by exporters. To be able to do so, the exporter must be recognized by the DGFT under the Approved Exporter System for Self-certification of Origin.
Article Link:
https://www.thehindu.com/business/markets/centre-allows-exporters-time-till-jan-31-on-origin-e-certificate/article37634200.ece