Counter vailing duty
This query is : Resolved
27 April 2009
What is Counter vailing duty?
What is purpose of It?
Thank you for replying me
What is purpose of It?
Thank you for replying me
27 April 2009
A "countervailing duty" is a special duty levied, in addition to the regular duty and other charges, by an importing country on its imports which have been found to be subsidized in the country of origin or exportation.
It is equal to the ascertained amount of subsidy, calculated in terms of subsidy per unit of the subsidized exported product. It is imposed following an affirmative final determination.
It is equal to the ascertained amount of subsidy, calculated in terms of subsidy per unit of the subsidized exported product. It is imposed following an affirmative final determination.
27 April 2009
There are four (4) elements or factors which must be considered before a countervailing duty may be imposed, namely:
- Product Comparability – a product is identical or alike in all respects to the article under consideration or, in absence of such product, another product which, although not alike in all respects, has characteristics closely resembling those of the product under consideration.
- Subsidy – refers to any specific assistance directly or indirectly provided by the government of the country of export or origin in respect of a product imported into the Philippines.
- Injury – means material injury to a domestic industry, threat of material injury or material retardation of the growth or the prevention of the establishment of a domestic industry. Injury test must be based on positive evidence and shall involve an objective examination of both (a) the volume of the subsidized imports and the effect of subsidized imports on the prices of like product in the domestic market, and (b) the consequent impact of these imports on domestic producers of such products.
- Causal Link – the material injury suffered by the domestic industry is the direct result of the importation of the subsidized product.
- Product Comparability – a product is identical or alike in all respects to the article under consideration or, in absence of such product, another product which, although not alike in all respects, has characteristics closely resembling those of the product under consideration.
- Subsidy – refers to any specific assistance directly or indirectly provided by the government of the country of export or origin in respect of a product imported into the Philippines.
- Injury – means material injury to a domestic industry, threat of material injury or material retardation of the growth or the prevention of the establishment of a domestic industry. Injury test must be based on positive evidence and shall involve an objective examination of both (a) the volume of the subsidized imports and the effect of subsidized imports on the prices of like product in the domestic market, and (b) the consequent impact of these imports on domestic producers of such products.
- Causal Link – the material injury suffered by the domestic industry is the direct result of the importation of the subsidized product.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR-Capital Gain
- CLOSING STOCK QUERY
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Sale of Mutual Funds In Diffirent Financial Years
- ITR 44AD SECTION
- Missed TDS
- Loss of interest in PF transfer from EPFO to Trust
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- NRI INSURANCE ADVISOR
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
