Bharat Forge, leading auto component maker, had sought imposition of safeguards duty on imports of front axle beam, steering knuckle and crankshaft of medium and heavy commercial vehicles into India from China to protect the domestic players.
Proceedings for imposing safeguard duty on Chinese Nylon Tyre Cord Fabric have already been initiated by the DGS on February 6 this year. Significantly, these moves to protect the domestic industry come at a time when India's industrial production contracted for two consecutive months ending January, 2009.
The new form will only require a complainant to mention the product and GST identification number of the seller
National Anti-profiteering Authority to be set up for ensuring that customers get the benefit of GST
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
Steps such as safeguard duty in the works to plug the route
Pharma shares extended losses after the government's ban on combination drugs.
Over the next four years corporate tax will come down by 5 per cent and lot of exemptions will get phased out.
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