CBIC Extends CVD Levy on Chinese Pneumatic Radial Tyres until July 23, 2024

The Central Board of Indirect Taxes and Customs ( CBIC ), vide notification no. 01/2024-Customs ( CVD ) dated 11th March 2024 regarding the countervailing duty ( CVD ) on imports of "New/Unused pneumatic radial tyres" originating from China PR.

This decision comes in the wake of a review initiated by the designated authority, as per the Customs Tariff Act, 1975, and in accordance with the Customs Tariff Rules of 1995.

The initiation of the review, as outlined in the initiation notification F. No. 7/30/2023-DGTR, dated December 29, 2023, signals a thorough assessment of the existing CVD on specific pneumatic radial tyres. These tyres, categorized under tariff item 4011 20 10 of the First Schedule to the Customs Tariff Act, are primarily used in buses and lorries/trucks.

The original imposition of the countervailing duty was made through notification No. 1/2019-Customs ( CVD ), dated June 24, 2019, published in the Gazette of India. This duty aimed to address issues related to subsidized articles and injury determination concerning imports from China PR.

In response to the review initiated by the designated authority, the Central Government has exercised its powers conferred by the Customs Tariff Act. Through an amendment to notification No. 1/2019-Customs ( CVD ), the government has extended the duration of the countervailing duty until July 23, 2024. This extension, unless revoked, superseded, or amended earlier, ensures the continuation of the CVD on Chinese pneumatic radial tyres for the specified period.

To Read the full text of the Order CLICK HERE

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