TaxTMI 
TaxTMI 
Seeks to notify the India - Korea Comprehensive Economic Cooperation Agreement (Bilateral Safeguard Measures) Rules, 2017
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....sub-rule (1) of rule 3 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997; (b) "domestic industry" means the producers - (i) as a whole of the like or directly competitive goods operating in the territory of India; or (ii) whose collective output of the like or directly competitive goods constitutes a major proportion of the total domestic production of those goods; (c) "increased imports" includes increase in imports from the Republic of Korea whether in absolute terms or relative to domestic production; (d) "interested party" includes, - (i) any exporter or producer from the Republic of Korea or importer of the good subjected to investigation for purposes of taking bilateral safeguard measure or a trade or business association, majority of the members of which are producers, exporters or importers of such a good; (ii) the Government of the Republic of Korea; and (iii) a producer of the like good or directly competitive good in India or a trade or business association, a majority of members of which produce or trade the like good or directly competitive good in India; ....
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....y; (e) to recommend the duration of the bilateral safeguard measure; and (f) to review the need for continuation of a bilateral safeguard measure. 4. Initiation of investigation.- (1) The Director General shall, on receipt of a written application by or on behalf of the domestic producer of like good or directly competitive good, initiate an investigation to determine the existence of serious injury or threat of serious injury to the domestic industry, caused by the increased imports of an originating good as a result of the reduction or elimination of customs duty under the Trade Agreement. (2) An application under sub-rule (1) shall be supported by:- (a) evidence of - (i) increased imports of the originating good; (ii) serious injury or threat of serious injury to the domestic industry; (iii) a causal link between imports of the originating good and the alleged serious injury or threat of serious injury; and (iv) the reduction or elimination of a customs duty under the Agreement being a cause which contributes significantly to the increase in imports of the originating good and such imports alone constitutes a s....
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....into India as a result of the reduction or elimination of a customs duty in terms of the Trade Agreement, issue a public notice, notifying the decision thereto and such public notice shall, inter alia, contain adequate information on the following, namely:- (a) precise description of the good subject to investigation; (b) the date of initiation of the investigation; (c) a summary statement of the facts on which the allegation of serious injury or threat of serious injury is based; (d) reasons for initiation of the investigation; (e) the address to which representations by interested parties should be directed; and (f) the time-limits allowed to interested parties for providing their views through appropriate representation. (2) The Director General shall forward a copy of the public notice to - (a) the Central Government in the Ministry of Commerce and Industry and other Ministries concerned, as deemed fit by the Director General; (b) the concerned trade associations or the known exporters of the originating good, the increased imports of which have been alleged to cause or threaten to cause serious injury t....
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.... information within the period specified by the Director General or significantly impedes the investigation, the Director General may record the findings on the basis of the facts available to him and make such recommendations to the Central Government as he deems fit under such circumstances. 6. Confidential information.- (1) Notwithstanding anything contained in sub-rules (1), (3) and (7) of rule 5, sub-rule (2) of rule 8 and sub-rule (5) of rule 10, any information which is by nature confidential or which is provided on a confidential basis shall, upon cause being shown, be treated as such by the Director General and shall not be disclosed without specific authorisation of the party providing such information. (2) The Director General may require the parties providing information on confidential basis to furnish non-confidential summary thereof and if, in the opinion of the party providing such information, the same cannot be summarised, such party may submit to the Director General a statement of reasons why summarisation is not possible. (3) Notwithstanding anything contained in sub-rule (2), if the Director General is satisfied that the request for confidentiality is....
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.... Korea. 9. Application of provisional bilateral safeguard measure.- (1) The Central Government, on the basis of the preliminary findings of the Director General, may - (a) suspend further reduction of any rate of customs duty on the originating good provided for under the Trade Agreement; or (b) increase the rate of customs duty on the originating good to a level not to exceed the lesser of: (i) the Most Favoured Nation applied rate of customs duty on the originating good in effect at the time when the bilateral safeguard measure is taken; and (ii) the Most Favoured Nation applied rate of customs duty on the originating good in effect on the day immediately preceding the date of entry into force of the Trade Agreement. (2) The bilateral safeguard measure under sub-rule (1) shall remain in force only for a period not exceeding two hundred days from the date of its imposition. 10. Final findings.- (1) The Director General shall, within eight months from the date of initiation of the investigation, or within an extended period not exceeding one year from the date of initiation of the investigation, as the Central Government may allow, deter....
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....fect on the day immediately preceding the date of entry into force of the Trade Agreement. (2) No bilateral safeguard measure under these rules may be imposed in respect of a good on which action under sub-section (1) of section 8B of the Customs Tariff Act, 1975 (51 of 1975) is in place and in the event of a safeguard measure being imposed in respect of a good under sub-section (1) section 8B of the Customs Tariff Act, 1975 (51 of 1975), any existing bilateral safeguard measure which has been imposed under these rules in respect of that good shall be terminated prior to the imposition of the action to be applied pursuant to sub-section (1) of section 8B of the Customs Tariff Act, 1975 (51 of 1975). (3) In case, the final finding of the Director General is contrary to the prima facie evidence on whose basis the investigation was initiated and the final finding does not have recommendation for applying bilateral safeguard measure, the Central Government shall within thirty days of the publication of final findings by the Director General under rule 10, withdraw the provisional bilateral safeguard measure imposed, if any. (4) Upon termination of the bilateral safeguard measu....