Countervailing additional duty on imports authorises government to impose notification-based levies to offset excise on inputs. The amendment authorises the Central Government to impose a countervailing additional duty on imported articles by notification where necessary in the public interest to offset excise duty on raw materials, components or ingredients of the same or similar nature used in production, and empowers rulemaking to determine the portion and application of such additional duty; it also amends the Explanation and the First Schedule as specified.
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Countervailing additional duty on imports authorises government to impose notification-based levies to offset excise on inputs.
The amendment authorises the Central Government to impose a countervailing additional duty on imported articles by notification where necessary in the public interest to offset excise duty on raw materials, components or ingredients of the same or similar nature used in production, and empowers rulemaking to determine the portion and application of such additional duty; it also amends the Explanation and the First Schedule as specified.
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