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of <h1>Amendment to Customs Tariff Act allows safeguard duties on Chinese imports for up to 10 years under Section 8C.</h1> Clause 126 of the Finance Bill, 2012 proposes an amendment to section 8C of the Customs Tariff Act, 1975. It allows the Central Government to extend the imposition of safeguard duties on imports from China if such imports cause or threaten to cause market disruption to the domestic industry. This extension can last up to ten years from the initial imposition of the duty, regardless of any adjustments made by the domestic industry. The amendment aims to align with the Transitional Product Specific Safeguard Mechanism under the Chinese Accession Protocol and becomes effective upon presidential assent.
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