Customs
Central Board of Indirect Taxes has issued notification which summarized as follows:
Imposition or Amendment of CVD: Sets or changes the countervailing duty on certain imports to counter subsidies from exporting countries.
Purpose: Protects domestic industries from unfairly subsidized imports.
Duration: Specifies the period for which the duty is applicable.
Exemptions: Lists out exemptions or exclusions for specific goods or countries.
Effective Date: date from which the countervailing duty (CVD) is applied to the specified imports.
The notification helps level the playing field for domestic producers.
[Notification No. 06/2024 – Customs (CVD) dated 04.10.2024]
