Govt imposes countervailing obligation on Chinese sweetener

Govt imposes countervailing obligation on Chinese sweetener

by admin- Tuesday, September 10th, 2019 08:44:43 PM

The government has imposed countervailing duty on Saccharin, a form of sweetener, from China for 5 years, a circulate to shield domestic players from cheap imports. The Department of Revenue imposed the responsibility after it turned into recommended by means of the Commerce Ministry’s investigation arm DGTR.

In its probe, the Directorate General of Trade Remedies (DGTR) concluded that Saccharin has been exported to India at subsidised value, which has led to subsidisation of the product. Due to this, home enterprise has suffered fabric harm.

After thinking about these findings, “the particular authority, hereby imposes definitive countervailing responsibility” on the goods “originating in and exported” via China, an legit notification said.

The product could attract 20 in step with cent responsibility, which might be imposed on the bottom of CIF (Cost, Insurance and Freight) value. The CIF value is the real cost of the goods when they are exported. While the DGTR recommends duty, Finance Ministry takes the very last name to impose the responsibility.

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