The government will make available the first ever comprehensive database on customs tomorrow which will help in carrying out customs duty reforms.
The 'Customs Tariff Database Online' will be released by Chief Economic Advisor Arvind Virmani tomorrow.
"This database is the first comprehensive database covering both tariff and non-tariff measures and import values in a single database with provision for monthly and daily updation," the government said in a release.
Customs tariff of India is a complex subjet 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 government has also "initiated a major exercise to identify and analyse the issues in customs tariff reforms. The database will provide the base for the study. The final result of the investigation will give a comprehensive industry wise listing of major issues and their possible solutions".
The database consists of all customs duties, counter vailing duties, education cess, anti-dumping and safeguard actions, import policy restrictions and tariff information on different trade pacts with other countries, among others.
"The businessmen can get authentic and reliable information electronically without referring to bulk ebooks," it said.
Source : Business Standard