India Countervailing Duty On 4% Of Jute And Ramie Yarn Imported From Bangladesh

2012/1/6 10:02:00 45

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India From Bangladesh Jute Yarn Levy Anti Subsidy Tax

The customs office in India, located at Petrapole, began to import jute from Bangladesh to India in late December 2011.

Cambric

Levy 4% of Countervailing Duty (CVD).

Bangladesh Bangladesh Jute Spinner Association (BJSA) pointed out that Bangladesh and

India

The topic was discussed at the January 2011 meeting, which was abolished by India.

Taxes

But it was quietly reintroduced in December of the same year without warning.

The CVD tax will have a major impact on the export of India's ramie yarn to Bangladesh. The Ministry of Commerce of Bangladesh has begun to communicate with India on this matter, but so far no progress has been made.

Business people in Bangladesh say that although India has released goodwill on the table to reduce the two trade deficits of Bangladesh and India, it has been very worrying in private.

According to BJSA statistics, the export volume of jute ramie yarn in Bangladesh in 2010 was 25 thousand tonnes, with an estimated export volume of 35 thousand tonnes in 2011.