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THE GENERALIZED SYSTEM OF PREFERENCES

What do you mean by GSP? How many countries extended GSP facility? What are the benefits from GSP? preference

 

a). Product coverage: An exporter must find out whether his product is eligible for preferential treatment under the GSP scheme. For this he has to identify the classification of his product within the custom’s tariff schedule of that country.

 

b). Calculation of Margin: Than exporter should calculate the preferential margin, by taking the difference between the normal rate of duty and the GSP rate of duty. If the margin is small it is advisable to leave the complete benefit for the importer. In the case of a large margin, the exporter may take a certain portion of the benefit and leave the rest for the importer but extreme caution is necessary for calculation of margin.

 

c). Quotas: As the tariff quotas and ceilings have been fixed under some of the GSP schemes for specified products, the exporter should determine whether his products are subject to quantitative limitation and whether the tariff quotas for the relevant time period have already been filled.

 

 

d). Rules of origin: Each preference giving country specifies the origin criteria which have to be met if the exported goods are to qualify for GSP.  The origin criteria are broadly classified as for application to products:

  • Wholly produced in the country.
  • Manufactured wholly or partly from imported materials.

In general, goods that are entirely produced in the exporting country without the use of any imported inputs are treated as wholly produced goods and become eligible for GSP without any qualification, but goods produced with imported materials have to satisfy specific origin requirements which vary from scheme to scheme.

 

e). Consignment requirements: All the preference giving countries, except Australia & Russia, require that the goods be directly consigned/shipment from the preference receiving country, by which is meant that:

  • Products are transported without passing through the territory of another country.
  • Products are transported through the territories of other countries with or without transshipment or temporary warehousing, provided that the products have remained under official customs control in the country of transit or warehousing, any have not undergone any operation other than the unloading, reloading and any measure.

Required to keep the products in good condition.  

 

Documentary requirement for export under GSP:

The exporters are required to submit declarations for GSP on prescribed form A, which should be accompanied by the following documents:

  • Commercial invoice
  • Packing list

Such declarations should be submitted three clear working days prior to the shipment of the goods for authentication by the EPB. This time requirements may be waived in exceptional cases where there is need for immediate authentication. In exceptional case, a Form-A may be issued after the exportation of the products if it was not issued at the time of exportation as a result of involuntary errors or omission on the part of the exporter.

 

What are the special treatments for least developing countries under GSP? 

Ans. Some of the preference giving countries have provision for special treatment for least developed of the developing countries. Under this special provision, the EEC provides that industrial products qualifying for GSP treatment will enter the EEC markets not only duty free but also without any quantitative restriction, like quota, ceilings etc. In case of agricultural products, the EEC, under this provision will provide duty free entry without any quantitative restriction.

 

Japan also extends special duty free treatment for the LDC’s for most of the products covered under its GSP scheme. Bulgaria, Czech Republic Hungary and Norway grant full duty free treatment for all products originating in and imported from the LDC’s. The USA grants duty free treatment for certain schedule products originating in and imported from the LDC’s.

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