Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
Highlights
D. Forum
What's New
Sub-Menu

Share:      

        Home        
 
TMI Short Notes
Home TMI Short Notes All Notes for this Source This
← Previous Next →

AMENDMENTS IN THE CUSTOMS TARIFF ACT, 1975

  • Contents

Dated: 1-2-2021

Budget 2021-22 + FINANCE Bill, 2021

AMENDMENTS IN THE CUSTOMS TARIFF ACT, 1975

S. No.

 Amendment

Clause of the Finance Bill, 2021

1.

Section 8B of the Customs Tariff Act is being amended to incorporate certain technical changes.

[ 92 ]

2.

Section 9 of the Customs Tariff Act is being amended to include provisions for anti-absorption, retrospective levy from the date of initiation of investigation in anti-circumvention cases, aligning countervailing duty provisions with those in safeguard measures in respect of levy on goods cleared from EOU and SEZ into Domestic Tariff Area, stipulating that when countervailing duty is revoked temporarily, such revocation shall be for a period not exceeding one year at a time and to provide for imposing Countervailing duty on review for period not exceeding 5 years at a time, instead of the 5 years at present

 [ 93 ]

3.

Section 9A of the Customs Tariff Act is being amended to include provisions for anti-absorption, retrospective levy in anti-circumvention cases, aligning anti-dumping duty provisions with those in safeguard measures in respect of levy on goods cleared from EOU and SEZ into Domestic Tariff Area, stipulating that when anti-dumping duty is revoked temporarily, such revocation shall be for a period not exceeding one year at a time and to provide for imposing ADD on review for period not exceeding 5 years at a time, instead of the 5 years at present.

 [ 94 ]

 

 


Full Text:

Budget 2021-22 + FINANCE Bill, 2021

 

 
 
 
← Previous Next →
 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||