Explanation:

• The Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR, 2020) came into force on September 21.

What are these rules?

• They set guidelines for enforcement of the ‘rules of origin’ for allowing preferential rate on imports under free trade agreements.
• They supplement the existing operational certification procedures prescribed under different trade agreements (FTA/ PTA/ CECA/ CEPA).

Background

• They were notified on 21st August, 2020 by the Department of Revenue. 30 day period was given to importers and other stakeholders to familiarize themselves with new provisions.

CAROTAR rules

• An importer is now required to do due diligence before importing the goods to ensure that they meet the prescribed originating criteria.
• A list of minimum information which the importer is required to possess has also been provided in the rules along with general guidance.
• An importer would now have to enter certain origin related information in the Bill of Entry, as available in the Certificate of Origin.

Hence option 4th is correct.