https://www.taxtmi.com/article/detailed?id=9692 The Finance Bill, 2021 amends the Customs Tariff Act to broaden powers for safeguard, countervailing and anti dumping measures by clarifying definitions for export oriented undertakings and SEZs; enabling retrospective extension and modification of countervailing duties to address circumvention and absorption (with absorption defined by decreased export price without matching domestic resale changes); restricting automatic application to EOUs/SEZ units unless specified or goods are cleared/used into the domestic tariff area; limiting duty duration to up to five years; and permitting temporary revocations not exceeding one year, while also revising First Schedule tariff classifications and basic duty rates. en-us Tue, 23 Feb 2021 09:08:56 +0530 Tue, 23 Feb 2021 09:08:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9692 The Finance Bill, 2021 amends the Customs Tariff Act to broaden powers for safeguard, countervailing and anti dumping measures by clarifying definitions for export oriented undertakings and SEZs; enabling retrospective extension and modification of countervailing duties to address circumvention and absorption (with absorption defined by decreased export price without matching domestic resale changes); restricting automatic application to EOUs/SEZ units unless specified or goods are cleared/used into the domestic tariff area; limiting duty duration to up to five years; and permitting temporary revocations not exceeding one year, while also revising First Schedule tariff classifications and basic duty rates. Articles Budget - Tax Proposals Tue, 23 Feb 2021 09:08:56 +0530 https://www.taxtmi.com/article/detailed?id=9692