GreenVertdicta

  On 20 Dec 2022, Central Government issued gazette notification (No. 111/2022 - Customs (N.T.)   dated 20 th Dec 2022 directing that provisions of the section 151B of Customs Act, 1962 shall be apply to the agreement or arrangement on Cooperation and Mutual Administrative Assistance (CMAA) in customs matters entered with Japan and Philippines. Applicability of this notification is subject to the conditions, exceptions or qualifications stipulated in notification. What is section 151B and its scope : This section was inserted through finance Act 2018, date 29.03.2018. It has recognized reciprocal arrangement with govt of other countries or competent authorities for exchange of information facilitating trade . Earlier also, the central govt exercised its power by issued notification No. 58/2021-customs (N.T.) dated 1st July 2021, to recognized 32 contracting parties [1] for applicability of custom law and corresponding law of contracting parties on custom matters. Under thi...

On Oct 2020, discussion on TRIPS waiver to Covid-19 started with submission of proposal. On 17 th June 2022, the trade ministers adopted the  Ministerial Decision which gives members greater scope to take direct action to diversify production of COVID-19 vaccines and to override the exclusive effect of patents through a targeted waiver over the next five years, it also contains a commitment that no later than six months from the date of the decision (i.e. 17 Dec 2022), members will decide on its possible extension to cover the production and supply of COVID-19 diagnostics and therapeutics. At a meeting of the Council for TRIPS on 6 July 2022, WTO members welcomed the adoption of the TRIPS waiver decision . On 16 th Dec 2022, WTO members agreed to recommend that the General Council extends the 17 December deadline established to decide on whether the TRIPS Decision adopted in June at the 12 th WTO Ministerial Conference should be extended to COVID-19 diagnostics and therapeutic...