The following 15 countries grant GSP preferences: Armenia, Australia, Belarus, Canada, the European Union, Iceland, Japan, Kazakhstan, New Zealand, Norway, the Russian Federation, Switzerland, Turkey, United Kingdom and the United States of America.

EU’s GSP removes import duties from products coming into the EU market from vulnerable developing countries. This helps developing countries to alleviate poverty and create jobs based on international values and principles, including labour and human rights.

GSP is the largest and oldest U.S. trade preference program. Established by the Trade Act of 1974, GSP promotes economic development by eliminating duties on thousands of products when imported from one of 119 designated beneficiary countries and territories.

Established by the Trade Act of 1974, the GSP is the US’ largest and oldest trade preference programme, according to the USTR. It said the GSP “promotes economic development by eliminating duties on thousands of products when imported from one of 119 designated beneficiary countries and territories”.

The Enabling Clause is the WTO legal basis for the Generalized System of Preferences (GSP). Under the GSP, developed countries offer non-reciprocal preferential treatment (such as zero or low duties on imports) to products originating in developing countries.

Cambodia became a GSP beneficiary in 1997 and in 2016 exported nearly $179 million duty free to the United States under the program. Under the GSP program, certain products from 120 beneficiary developing countries and territories can enter the United States duty-free.

In May 2019, the President terminated Turkey’s GSP designation based on its improved level of economic development. The President also terminated India’s GSP eligibility in June 2019 on the basis of market access issues.

The US classifies South Africa as a beneficiary developing country for GSP purposes.

The United States, for instance, has excluded countries from GSP coverage for reasons such as being communist (Vietnam), being placed on the U.S. State Department’s list of countries that support terrorism (Libya), and failing to respect U.S. intellectual property laws.

The German Shorthaired Pointer (GSP) is a medium to large sized breed of pointing dog developed in the 19th century in Germany for hunting.

1 The Generalised System of Preferences (GSP) is a non-contractual instrument by which industrially developed countries extend tariff concession to goods originating in developing countries.

The GSP is the largest and oldest US trade preference programme and is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries.

In March 2019, President Trump’s administration announced that it would revoke India’s GSP status, since India failed to make improvements. India’s GSP benefits were terminated in June 2019.

In the next round of licensing, around 42 companies were allotted the status of GSP as listed here. In the last round of GSP list announced in November 2019, 10 companies have joined the list as laid down here. ClearTax is a GSP authorised to connect to the GST Network using published APIs.

In ASP, organizations or businesses must have to share the detailed data of sales and purchase of Goods and Services to the ASP. After then ASP providers will prepare the GST Returns and file the returns through GSP (GST Suvidha Provider).

Certification opportunities for GSP by integrating with SAP Localization Hub, digital compliance service (SLH DCS) GSTN has introduced two entities, GST Suvidha Provider (GSP) and the Application Service Provider (ASP) , whose roles are to facilitate the data communication to GSTN system for managing reporting needs.

Let’s look into the process of E-Way Bill Portal (NIC) log in and adding GSP….NIC GSP Login Creation

1. Now you have to enter your GSTIN and the correct Captcha Code and hit the “Go” button.
2. You will now be directed to the E-Way Bill registration form with your details auto-filled, based on the GSTIN provided by you.

GST API is an application programming interface under GST. An API acts as an intermediary between two applications so that they can interact with each other. API is an essential aspect of easing GST compliance.

How can I activate or de-activate an API session?

1. Login to the GST Portal with your authorized credentials.
2. Go to My Profile section.
3. From the Quick Links panel, select Manage API Access.
4. Click the Yes radio button.
5. The screen will display the Duration drop-down.
6. Open the drop-down list and select the desired duration.

Enable API access in GSTN Portal

1. On the top-right corner, click on My Profile.
2. Click on Manage API Access.
3. Choose Yes under Enable API Request.
4. Under Duration, choose 30 days.
5. Click on Confirm.