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 was signed to increase the cooperation in the area of trade remedies. ..
Month: Current Affairs - April, 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 are imported from these countries below its associated normal value. This is ..
Month: Current Affairs - June, 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 on Agarbatti industry creating at least 1 lakh new jobs according to ..
Month: Current Affairs - June, 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 is being implemented to drive local manufacturing of the equipment and lowering ..
Month: Current Affairs - February, 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 government. The GSP promotes economic development by eliminating certain import duties on ..
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 panel are used in manufacturing of television sets such as LED TVs. ..