GSTnews item25 February 2016

Centre to amend customs law to curb subsidised imports

News Update

Centre to amend customs law to curb subsidised imports

Published Date: Feb 26, 2016
Source: ICAI PD Committee
Moving aggressively in its efforts to check cheap imports of heavily subsidised items like steel from countries such as the US and China, the Centre is looking at amending its Customs Act in order to bring more categories of subsidies within the ambit of countervailing duties (anti-subsidy duties imposed on imports). “Indian laws continue to exclude certain types of subsidies, once considered ‘non-actionable’ by the WTO, while calculating countervailing duties (CVD) despite the fact that the category ceased to exist at the WTO since December 1999.
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Centre to amend customs law to curb subsidised imports