LatestIncome Tax 21 July 2026
India-UK Ceta Concession
India and the UK have a concession available for qualifying goods in transit under the India-UK Comprehensive Economic Trade Agreement, allowing for a claim of concessional duty after importation with a possible refund, a significant development for businesses and traders, the concession is available under Rules 16(7) and 21, and is expected to facilitate trade between the two countries
The India-UK Comprehensive Economic Trade Agreement provides a concession for qualifying goods in transit.
Qualifying goods can claim concessional duty after importation with a possible refund under Rules 16(7) and 21.
- The concession is expected to facilitate trade between India and the UK,
- Businesses and traders can benefit from the reduced duty rates,
- The agreement aims to increase trade and investment between the two countries
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