Parliament adopts resolution levying 200% duty on all Pakistani goods
The Parliament of India has adopted a statutory resolution for levying 200% duty on all goods exported from or originating in Pakistan. The two statutory resolutions were moved by Anurag Thakur, Minister of State (M/S) for Finance on behalf of Union Minister of Finance Smt. Nirmala Sitharaman and both were adopted by voice vote.
India had notified about levying of basic custom duty to 200% on all goods exported from Pakistan with effect from 16 February 2019. In this regard both Lok Sabha and Rajya Sabha approved the amendment in 1st schedule of Customs Tariff Act (CTA), 1975.
The 1st resolution sought to approve February 2019 notification to insert new tariff item 9806 00 00 under Chapter 98 of 1st Schedule of Customs Tariff Act.
Besides, the statutory resolution the Rajya Sabha adopted the move to increase basic custom duty (BCD) on lentils, boric acid and diagnostic and laboratory reagents. Custom duty on lentils has been increased from 40% to 50%, on diagnostic items from 20% to 30% and on boric acid it has been increased from 17.5 to 27.5%.
What is a Statutory Resolution?
It is a resolution in pursuance of a provision in Indian Constitution or an Act of Parliament.
Month: Current Affairs - July, 2019
Category: Legal & Constitution Current Affairs