NEW DELHI: Beware of Chinese bearing gifts, or rather Chinese ecommerce companies bearing gifts. Using the gift route allows overseas ecommerce players to avoid import duties, giving them an unfair advantage over firms that follow customs norms. Local ecommerce companies had earlier sent representations to the government on the issue.Courier service providers are required to carry out know-your-customer checks of the recipients. In January, one zone of the Mumbai customs commissionerate cancelled registrations of courier companies that did not comply with KYC norms. It also ruled that the Rs 5,000 limit on the gift value will include the courier charge.

Source: Economic Times June 12, 2019 02:15 UTC