Notification No 31/2020 Customs date on 13th July, 2020

Seeks to further amend notification no. 152/2009 dated 31.12.2009, to increase the rate of duty of customs on imports of "Polybutadiene Rubber" originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement, on recommendation of preliminary findings of Directorate General of Trade Remedies under India-Korea Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017. 

The extract of CUSTOMS Notification No. 31/2020- CUSTOMS is given below: 

 Notification No. 31/2020-CUSTOMS

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION(i)] 

GOVERNMENT OF INDIA 

MINISTRY OF FINANCE 

(DEPARTMENT OF REVENUE) 

Notification No. 31/2020-Customs

New Delhi dated the 13^th July, 2020

G.S.R …..(E).— Whereas in the matter concerning imports of “Polybutadiene Rubber” (hereinafter referred to as the subject goods) falling under tariff item 4002 20 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), the Director General of Trade Remedies (hereinafter referred to as the Authority) initiated an investigation in terms of the India-Korea Comprehensive Economic Partnership Agreement (Bilateral Safeguard Measures) Rules, 2017 (hereinafter referred to as the said rules) vide initiation notification under F.No.22/7/2019-DGTR, dated the 7^th November, 2019 published in the Gazette of India, Extraordinary dated the 7^th November, 2019 in order to determine whether the imports of the subject goods from Korea RP constitute increased imports and whether the increased imports have caused or are threatening to cause serious injury to the domestic industry.

And whereas, in the preliminary findings of the Bilateral Safeguard investigation issued vide F.No.22/7/2019-DGTR, dated the 12^th May, 2020, published in the Gazette of India, Extraordinary dated the 12^th May, 2020, the Authority has provisionally concluded that-

(i)                 the domestic industry has suffered serious injury as a result of duty concessions granted to Korean imports leading to increased imports of the subject goods from Korea at low prices;

(ii)               that injury to the domestic industry has been caused by the increased Korean imports and there is a causal link between increased imports of subject goods from Korea and serious injury to the domestic industry;

(iii)             the factors present constitute critical circumstances and are affecting the overall performance of the domestic industry, justifying imposition of provisional bilateral safeguard measure,

and has recommended imposition of the provisional bilateral safeguard measure of increasing the rate of customs duty on subject goods originating in Korea RP imported under the Comprehensive Economic Partnership Agreement between the Republic of India and the Republic of Korea (hereinafter referred to as the Trade Agreement), to the level of Most Favoured Nation duty on the subject goods as on the date of application of the bilateral safeguard measure or Most Favoured Nation duty on the subject goods on the day immediately preceding the date of entry into force of the Trade Agreement, whichever is less, for a period of 200 days.