What is the News?
The Ministry of Commerce had launched an online portal to issue Certificate of Origin(CoO) to the exporters from November 1,2021. The portal was launched to facilitate exporters through a secure, electronic, paperless CoO issuance process.
However, exporters are facing challenges in registering on to the portal as it requires high-quality digital signature certificates and many reporting outages on the portal.
What Is a Certificate of Origin (CoO)?
A certificate of origin (CoO) is a document declaring in which country a commodity or good was manufactured.
The certificate of origin contains information regarding the product, its destination, and the country of export. For example, a good may be marked “Made in the USA” or “Made in China”.
Why is CoO mandated?
The CoO is often mandated by importing countries because it can help determine whether certain goods are eligible for import or whether goods are subject to duties.
Source: This post is based on the article “New online certification system puts exporters in a fix” published in The Hindu on 5th November 2021.
Discover more from Free UPSC IAS Preparation Syllabus and Materials For Aspirants
Subscribe to get the latest posts sent to your email.
