Date: 2024-08-08 08:36:10
On July 19, 2024, the Tax Department of the Ministry of Finance of India issued Notification No. 03/2024-Customs (CVD), stating that it accepts the recommendation made on April 22, 2024, by the Ministry of Commerce and Industry of India, following the first sunset review of the countervailing duty on New Pneumatic Radial Tyres for buses and lorries originating from or imported from China. India has decided to continue imposing the countervailing duty on the involved products from China for another five years, at a rate of 17.57% CIF. The involved products are new pneumatic radial tyres with a rim diameter greater than 16 inches, for buses or trucks, with or without rubber tubes and/or rubber flaps (including tubeless tyres). These products fall under Indian customs codes 40112010 and partially under 40118000 (if the description of imported products under this code matches the description of the involved products, the countervailing duty will be imposed. Otherwise, it will not be imposed). This measure comes into effect from the date of publication of this notification in the official gazette.
