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of <h1>Finance Bill 2021: Clause 93 Amendments to Section 9 of Customs Tariff Act Enhance Countervailing Duties Effectiveness</h1> Clause 93 of the Finance Bill, 2021 proposes amendments to section 9 of the Customs Tariff Act. It introduces a provision for the retrospective application of countervailing duties from the inquiry initiation date. A new sub-section (1B) addresses anti-absorption measures, allowing modification of duties if absorption renders them ineffective. Sub-section (2A) exempts certain imports by export-oriented or special economic zone units from countervailing duties unless specified otherwise. Amendments to sub-section (6) change the duty imposition period to up to five years and limit temporary revocations to one year. These changes aim to enhance the effectiveness of countervailing duties.
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