TaxTMI 
TaxTMI 
List of certain goods on which CVD is not levied
28 Feb 2006 
1 Reply 
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Countervailing duty on imports limited by exemptions for VAT exempt goods, fuels, metals, fertilizers, and specified clearances.
CVD was broadly imposed on imports under section 3(5) of the Customs Tariff Act, 1975, but two notifications implemented the levy and an exemption schedule. The exemption notification lists categories excluded from CVD, including VAT exempt goods, items exempt from basic or countervailing excise duty, petroleum products and fuels, passenger baggage, fertilizers and inputs, specified DTA clearances from EOUs/EHTP/STP/SEZs (where not VAT exempt), gold concentrate and certain precious metals and stones (excluding jewellery), ships for breaking up, and specified power and transmission equipment. (AI Summary)
CVD was broadly imposed on imports under section 3(5) of the Customs Tariff Act, 1975, but two notifications implemented the levy and an exemption schedule. The exemption notification lists categories excluded from CVD, including VAT exempt goods, items exempt from basic or countervailing excise duty, petroleum products and fuels, passenger baggage, fertilizers and inputs, specified DTA clearances from EOUs/EHTP/STP/SEZs (where not VAT exempt), gold concentrate and certain precious metals and stones (excluding jewellery), ships for breaking up, and specified power and transmission equipment. (AI Summary)
FM in Budget 2006 has proposed to levy CVD on all imports except certain goods. I would like to know the list of the goods proposed which are out of purview of CVD.