Thailand has agreed to retrospectively reexamine rules of origin certificates issued to Indian gold importers after New Delhi said third gold was routed through Thailand to take advantage of concessional duty available under India-Thailand free trade agreement.
If any certificate is found lacking, importer will have to pay additional duties, spelling more miseries for the sector that has been on the on the policy radar for worsening India's current account deficit.
In the worst case scenario, the imported gold can also confiscated if malafide intent to evade taxes is established.
If any certificate is found lacking, importer will have to pay additional duties, spelling more miseries for the sector that has been on the on the policy radar for worsening India's current account deficit.
In the worst case scenario, the imported gold can also confiscated if malafide intent to evade taxes is established.
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