Customs Tariff amendments enable reduction of anti dumping duties and impose retrospective safeguard duties. The Finance Bill, 2011 proposes targeted amendments to the Customs Tariff Act: replacing the Standards reference with the Legal Metrology Act, 2009; empowering the Central Government to reduce anti dumping duty where an importer proves excess payment; aligning the First and Second Schedules with the Harmonised System and WCO updates including revised descriptions for heading 9804 and new tariff entries for de oiled rice bran oil cake and specified iron ore; and imposing a retrospective final safeguard duty on caustic soda lye for the period covered by the provisional measure.
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Customs Tariff amendments enable reduction of anti dumping duties and impose retrospective safeguard duties.
The Finance Bill, 2011 proposes targeted amendments to the Customs Tariff Act: replacing the Standards reference with the Legal Metrology Act, 2009; empowering the Central Government to reduce anti dumping duty where an importer proves excess payment; aligning the First and Second Schedules with the Harmonised System and WCO updates including revised descriptions for heading 9804 and new tariff entries for de oiled rice bran oil cake and specified iron ore; and imposing a retrospective final safeguard duty on caustic soda lye for the period covered by the provisional measure.
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