CBIC’s Latest Instruction on FTA Origin Procedures The CBIC has issued Instruction No. 23/2024-Customs (21 Oct 2024), clarifying critical aspects of the Free Trade Agreements (FTAs), with a focus on third-party invoicing under ASEAN-India FTA (AIFTA). Key highlights include: 1️⃣ Acceptance of third-party invoicing under AIFTA, as long as origin requirements are met 2️⃣ Rules on customs valuation & third-party invoice verification 3️⃣ Confidentiality of exporter information as per CAROTAR, 2020 4️⃣ Currency flexibility between CoO and invoices 5️⃣ Due process in denial of preferential duty claims For more insights, see E-Fortnightly
