GSTnews item16 March 2016
Gold jewellery imports from ASEAN to face 12.5% countervailing duty
News Update
Gold jewellery imports from ASEAN to face 12.5% countervailing duty
After steel and metals, the government has moved to protect the local gold jewellery-making industry from imports that threaten the jobs in the sector. Gold jewellery imports from the 10-member Association of South East Asian Nations (ASEAN) under the free-trade agreement, which have been under the scanner for some time, will face a 12.5% countervailing duty in lieu of 12.5% excise duty imposed in the budget. The duty will make imports more expensive and protect the local industry.
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