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Cabinet to decide on revised Kyoto convention on customs
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About 38 countries, including the European Union, Australia, New Zealand, China and Pakistan, have already signed the convention.
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New Delhi
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Aug. 19
INDIA is preparing to sign the revised Kyoto convention on customs, and a proposal would soon come up before the Union Cabinet, a top Finance Ministry official has said.
"At the moment, inter-ministerial consultations are on. It will soon be sent to the Cabinet for approval," the Chairman of the Central Board of Excise and Customs (CBEC), Mr M. Jayaraman, said here at a national seminar on trade facilitation jointly organised by the Department of Revenue, Department of Commerce and Unctad.
About 38 countries, including the European Union, Australia, New Zealand, China and Pakistan, have already signed the convention. The US is, however, not a signatory.
India was a signatory to the previous convention, which was less rigorous than its revised form. The revised convention outlines standardised procedures for transparency in customs procedures, treatment of offences and use of information technology, some of which is already implemented by India.
The CBEC Chairman also said that customs collections had grown about 24 per cent to Rs 20,000 crore in April-July this year.
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