Current Affairs

GK MCQs Section

import duty

Union Cabinet approves India-Bangladesh Cooperation in Trade

The Union Cabinet recently approved the Memorandum of Understanding signed between the Director General of Trade Remedies of India and Trade and Tariff Commission of Bangladesh. The agreement...

April 20, 2021

GoI: Anti-Dumping Duty imposed on steel from China, South Korea and Vietnam

The Government of India recently imposed anti-dumping duty on the steel imported from China, South Korea and Vietnam. Highlights The duty has been imposed on steel products that...

June 24, 2020

Enhanced Import Duty on Bamboo Sticks

The Government of India had recently announced that the import duty on bamboo sticks is to be increased from 10% to 25%. This is to have great impact...

June 12, 2020

Import duty on Green Energy Equipment hiked by 20% in Budget 2020-21

The Budget 2020-21 that was presented by the finance Minister Nirmala Sitaraman in the Parliament increased the import duty of green energy equipment like cells by 20%. This...

February 3, 2020

What is GSP in the United States of America?

The United States of America’s Generalized System of Preferences (GSP) is the oldest and largest trade preference program established under the Trade Act of 1974 by the US...

December 14, 2019

Govt scraps import duty on open cell TV panel used to make TV sets

In a bid to boost domestic manufacturing, the Central government has removed 5% custom duty that was imposed on import of open cell TV panel. Open cell TV...

September 19, 2019

U.S. Considering ‘301 probe’ on India

The Deputy U.S. Trade Representative (USTR) has stated that the U.S. will consider a 301 investigation which is a precursor to tariffs and other trade measures. if the...

July 13, 2019

India’s ICT products Tariff Consultations in WTO

The European Union (EU), China, and Thailand have expressed their intent to join consultations in a case at the WTO against India’s import duties on certain information and...

May 24, 2019

Centre increases Wheat Import Duty by 40%

With wheat production at record high, government has raised import duty on wheat from existing 30% to 40% to support local farmers interest. The higher duty will help...

April 29, 2019

Government raises import duty on 328 textile products to curb imports

Government has doubled import duties on 328 textile products to 20% from existing rate of 10% under Section 159 of the Customs Act, 1962.  Earlier in July 2018,...

August 8, 2018

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