GSTnews item5 July 2020

$12 billion worth Chinese imports under government lens; customs duty may be hiked

News Update

$12 billion worth Chinese imports under government lens; customs duty may be hiked

Published Date: Jul 06, 2020
Source: ICAI PD Committee
As India considers steps to curtail cheap and substandard imports from China, it is set to start with raising basic customs duties on dozens of products. This would be followed up with non-tariff measures, such as standard specifications for hundreds of items, in the medium term, sources told FE. Though the move is not patently China-specific and will apply to imports of the specified items from any country, the brunt of the decisions will be borne by China. The government is considering a list of 1,173 items — ranging from auto parts, compressors for AC and refrigerators to select steel and aluminium products and electrical machinery — to zero in on products/ sub-products on which the import duties can be hiked. These items are mostly imported from China and can be substituted with local production without much hassles, one of the sources said.
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$12 billion worth Chinese imports under government lens; customs duty may be hiked