A GSP Registration is a legal document that is issued to an exporter of manufactured goods to verify the origin of the product. It includes important information such as the manufacturer’s details, the location where the goods were produced, and the intended destination of the commodities. This registration is crucial for ensuring the compliance of the product with the regulations of the importing country, particularly regarding tariffs and trade restrictions. It is a trade agreement offered by developed countries to developing nations to promote economic growth and enhance global market access.
This document serves as proof to customs authorities and trade partners, ensuring compliance with trade agreements, import regulations, and tariff policies. It plays a vital role in verifying the authenticity and traceability of goods, promoting fair trade practices, and facilitating international trade transactions with transparency and credibility. The GSP registration also helps in reducing tariffs, thereby offering cost savings and encouraging businesses in developing nations to expand their export markets. By ensuring the proper documentation and adherence to rules, it builds trust and strengthens the overall trading.
The exported goods must meet the rules of origin set by the importing country to benefit from the Generalized System of Preferences (GSP). The Rules of origin are a set of requirements established by the importing country that Indian products must meet in order to be eligible for preferential tariff treatment upon importation into that country.
The three components of the rules of origin are listed as follows:
Here is a list of documents required to obtain GSP for respective free trade agreements:
The procedure for obtaining a GSP Registration involves several steps to ensure compliance with trade regulations. Here’s a general outline of the process:
An applicant must provide valid information and supporting documents with their application to prove the origin of their products.
A product will be considered to have come from a contracting nation and be eligible for preferential treatment if it meets the following criteria:
Products with import content are goods manufactured wholly or partially from materials imported from other countries into India. Products with import content qualify for the benefit of GSP if imported or unknown origin materials are used in manufacturing such products, provided that the manufacturing process has undergone substantial transformation in India.
Note:-Exporters must provide a GSP Registration for their goods in order to confirm their authenticity, in accordance with the agreed trade agreement between the parties concerned.
Here is a list of documents required to obtain GSP for respective free trade agreements:
India has enhanced its market access commitments for neighbouring service providers. These commitments provide companies with an opportunity to build market expertise and grow by international expansion. Under Free or Preferential Trade Agreement there are multiple options where certificate of origin can be generated from India for import benefits to importing companies:
ICPTA – India Chile Preferential Trade Agreement
SAFTA – South Asia Free Trade Agreement
SAPTA – SAARC Preferential Trade Agreement
IKCEPA – India Korea Comprehensive Economic Partnership Agreement
IJCEPA – India Japan Comprehensive Economic Partnership Agreements
AIFTA – ASEAN India Free Trade Agreement
ISFTA – India Sri Lanka Free Trade Agreement
APTA – Asia Pacific Trade Agreement
GSTP – Global System of Trade Preferences
IMCECA – India Malaysia Comprehensive Economic Cooperation Agreement
ISCECA – India Singapore Comprehensive Economic Cooperation Agreement
The GSP Registration is crucial for exporters across India aiming at improving access to developed country markets. According to the set rules and regulations and producing all the documentation required, exporters are able to enjoy lowered tariffs, which can result in fair trade practices, high competitiveness and better international relations in the international market. This registration is very important in terms of extending market access and the growth of the economy. Professional Utilities has extensive experience in guiding organizations through this process and helping you to meet legal requirements and maximize efficiency where the organizations engage in import-export. From the guidelines given above, it has been seen that the exporters can avail the maximum of the advantages of the GSP program.
it takes around 3-5 days to get GSP Registration
The govt fee for application is ₹708 per invoice and one time registration fee if ₹500.
import-export code is an essential requirement for al kind of import-export businesses in India.
The GSP Registration is issued by the DGFT
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