Thailand to look into rules of origin certificates

Thailand plans to review the rules of origin certificates issued to Indian gold importers, reports say. This move comes on the heals after India noted that some in order to gain leverage from the duty concessions available under India-Thailand free trade agreement, are routing third-country gold through, reports add.

This step is expected to learn if the certificates were issued in line with all the prescribed conditions. On the event of a certificate observed as lacking, the importer will be required to pay additional duties, and the imported gold could be confiscated if malafide intent to evade taxes is established, reports say.