The Central Board of Indirect Taxes and Customs vide its notification dated 1st February 2021 has published the Customs Tariff (Identification, Assessment and Collection of Countervailing Duty on Subsidized Articles and for Determination of Injury) Amendment Rules, 2021 which shall come into force from 2nd February 2021.
The Amendment brings in new rule 26(4A) which states that the Central Government may, on the recommendation of the designated authority, resort to the provisional assessment of the imports of the article alleged to be circumventing an anti-dumping duty in force and may ask a guarantee from the importer, till the time a decision under sub-rule (3) of rule 27 is taken by the Central Government.
Under rule 24(4), the final review shall be completed at least three months prior to expiry of the countervailing duty under review and this provision shall be effective from 1st July 2021.
