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Budget 2020-21 + FINANCE BILL, 2020
S. No. | Amendment | Clause of the Finance Bill, 2020 |
1. | Section 8B is being substituted with a new section to empower the Central Government to apply safeguard measures, in case any article is imported into India in such increased quantities and under such conditions so as to cause or threatening to cause serious injury to domestic industry. Safeguard measure shall include imposition of a Safeguard Duty or application of a Tariff Rate Quota or any other measure that the Central Government may consider appropriate as safeguard measure. | [114] |
Full Text:
Safeguard measures expanded to permit duties or tariff rate quotas when increased imports threaten domestic industry. The substituted Section 8B empowers the Central Government to apply safeguard measures-including imposition of a Safeguard Duty, application of a Tariff Rate Quota, or any other appropriate measure-when increased imports of an article cause or threaten to cause serious injury to domestic industry, centralising authority to identify qualifying import patterns and to select proportional remedial instruments.Press 'Enter' after typing page number.
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