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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 trade issues between the two countries are not resolved quickly. The U.S. ..
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 communication technology products, including mobile phone which was filed by Japan. Earlier ..
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 offtake of domestically produced grain by discouraging milers to import wheat but ..
Month: Current Affairs - April, 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, Government had doubled import duty on over 50 textile products — including ..
Month: Current Affairs - August, 2018
Government extends deadline for imposing duty hike on 29 US products by 45 days
Union Finance Ministry has further extended deadline on imposing import duty hike on 29 products, imported from United States (US) by 45 days till September 18, 2018 from earlier August 4, 2018. This decision for extension of retaliatory measures for ..
Month: Current Affairs - August, 2018
Government levies 10% import duty on key smartphone components
The Central Bureau of Excise and Customs (CBEC) under Finance Ministry has imposed a 10% duty on imports of key smartphone components such as populated printed circuit boards (PCBs), camera modules and connectors. At present there is zero import duty ..