Customs database to help importers, policy makers: Virmani

Importers now, at the click of a mouse, will be able to find the prevailing custom duty on a product, end-use or country-specific exemptions, related government policies, duty calculator and the likes.

The government today released a comprehensive customs tariff and non-tariff database in the form of a CD and plans to launch the database online within a week for the benefit of businessmen, researchers and the government itself.

"This is the first ever online database for customs tariff which will be accessible by the Ministry of Finance as well as the general public," Chief Economic Advisor Arvind Virmani said after the launch.

The database, prepared by the Academy of Business Studies for the Finance Ministry on a public private partnership (PPP) basis, will be updated daily and will be available on payment basis on the net, said ABS Director Arun Goyal.

Virmani said the database will come in handy for research and analysis for decision making in customs tariff reform and the investigation will give an industry-wise listing of major issues and their possible solutions.

Besides being useful for policy making, the database will be linked with export and import figures, government policies on the products and will also be inter-linkable with other database like that of the World Trade Organisation (WTO). "The CD contains authentic and reliable information on the complex customs duties, exemptions... Electronically without making one refer to the bulk e-Books," said Trade Expert and Senior Economic Advisor H A C Prasad.

Customs Tariff of India is a complex subject with 11,000 tariff codes, 328 exemption notifications along with 591 entries in the jumbo notification giving effective duties against specific tariff codes under exemption.

The database consists of all customs duties, counter- vailing duties, education cess, anti-dumping and safeguard actions, import policy restrictions, non-tariff barriers and various trade pacts with other countries, among others.

Courtesy: Business Standard (July 21, 2009)