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of <h1>Section 8C Added to Customs Tariff Act 1975: New Safeguard Duty on Chinese Imports to Protect Domestic Market Stability</h1> The Finance Act, 2002, introduces Section 8C to the Customs Tariff Act, 1975, granting the Central Government authority to impose a transitional product-specific safeguard duty on imports from China. This measure is applicable when increased imports threaten domestic market stability. The government can impose provisional duties pending further investigation, with refunds if no threat is found. Exemptions apply to export-oriented units and special economic zones. The safeguard duty is additional to other duties and can last up to four years, extendable to ten. Rules will be established for duty assessment, and all notifications must be presented to Parliament.
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